Cableserve Inc. has the following outstanding shares: 10,500 shares, $5.40 cumulative preferred 26,000 shares, common During 2020, the company declared and paid $129,000 in dividends. Dividends were in arrears for the previous year (2019) only. No new shares have been issued since the first year of operations. Required: 1. What was the total amount paid to the preferred shareholders as dividends in 2020?

2. What was the total amount paid to the common shareholders as dividends in 2020?