Cableserve Inc. has the following outstanding shares:

10,500 shares, $5.40 cumulative preferred

26,000 shares, common

During 2017, the company declared and paid $129,000 in dividends. Dividends were in arrears for the previous year (2016) 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 2017?

2.What was the total amount paid to the common shareholders as dividends in 2017?