Check my work When Crossett Corporation was organized in January, Yeart, it immediately issued 5 300 shares of $46 pot, 5 percent, cumulative preferred stock and 10 500 shares of $13 par common stock, its earnings history is as follows: Year 1 net loss of $14100 Year 2. net income of $123,000 Year 3, net income of $107.000. The corporation did not pay a dividend in Year 1 Required a. How much is the dividend arrearage as of January 1 Year 2? Den reage b. Assume that the board of directors declares a $35.380 cash dividend at the end of Year 2 remember that the Yeart and Year 2 preferred dividends are due). How will the dividend be divided between the proferred and common stockholders? Total amount distributed to preferred shares Total amount distried to common shares