Cumulative Preferred Dividends Capital stock of Barr Company includes: Common stock, $5 par, 610,000 shares outstanding $3,050,000 Preferred stock, 15% cumulative, $70 par, 12,000 shares outstanding 840,000 As of December 31, 2024, 2 years' dividends are in arrears on the preferred stock. During 2025, Barr plans to pay dividends that total $488,000. Required: 1. Determine the amount of dividends that will be paid to Barr's common and preferred stockholders in 2025. Total dividend to preferred stockholders Total dividend to common stockholders 2. If Barr paid $390,000 of dividends, determine how much each group of stockholders would receive. Total dividend to preferred stockholders Total dividend to common stockholders