Butterfly Company, since it was organized in Janruary 2016...

Butterfly Company, since it was organized in January 2016, has had outstanding 25,000 shares of $12.00 non-participating preferred shares and 35,000 common shares. It has declared and paid dividends each as shown below: Required: Calculate and present in the blank space below the total dividends distributed to each class of shareholder under the assumption that the Preferred Shares are Cumulative. Year Dividends Declared and Paid Preferred Dividend Common Dividend 2016 $250,000 2017 $545,000 2018 $850,000 TOTAL