Derek corporation was organized on January 1, 2014. the corporation issued 40000 shares of $5 par value preferred stock and 400,000 shares of $1 par value common stock. at December 31 in 2014,2015 and 2016 the company declared the following cash dividends

2014 $8000

2015. $30,000

2016. $70,000

Show the allocation of dividends to each class of stock assuming the preferred stock dividend is 6% and cumulative