Calculate how much would be paid to each class of shares.

Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share capital: Preferred shares, $6 cumulative dividend, 139,000 shares issued and outstanding Share capital: Common shares, 706,000 issued and outstanding Retained earnings $13,900,000 35,300,000 24,360,000 No dividends were declared in 2018 or 2019; however, in 2020, cash dividends of $4,831,800 were declared. Calculate how much would be paid to each class of shares. Common Total Preferred $ 834,000 $ 0 $ 834,000 2018 arrears 2019 arrears 834,000 0 834.000 2020 834,000 $ 2,502,000 $ $ $