Check Stockholders' equity of Ernst Company consists of 89,000 shares of $5 par value, 9% cumulative preferred stock and 325.000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company's inception. Erst did not declare any dividends in the prior year, but it now declares and pays a $140,000 cash dividend at the current year end Determine the amount distributed to each class of stockholders for this two-year-old company ar Value per Preferred Dividend per Preferred Number of Preferred Preferred Dividend for Rate Calculation of preferred dividend Tots each dividend To preferred shareholders To common shareholders