Brief Exercise 18-11 (Algo) Effect of preferred stock on dividends [LO18-7] The shareholders' equity of MLS Enterprises includes $230 million of no par common stock and $460 million of 5% cumulative preferred stock. The board of directors of MLS declared cash dividends of $58 million in 2021 after paying $17 million cash dividends in both 2020 and 2019. What is the amount of dividends common shareholders will receive in 2021? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Par Value Preferred Stock Dividend Rate (%) Annual Preferred Dividend Annual Preferred Dividend: Total Cash Dividend Paid % Paid to Preferred Paid to Common Dividends in Arrears at year-end 2019 2020 2021 Total 0 0