Determining Cash Dividends to Preferred and Common Shareholders Sinclair Company has outstanding 32,000 shares of $50 par value, 6% cumulative preferred stock and 80,000 shares of $10 par value common stock. The company declares and pays cash dividends amounting to $224,000. a. If there are no preferred dividends in arrears, how much in total dividends, and in dividends per share, does Sinclair pay to each class of stock? Total Dividends Dividends per Share Preferred shareholders: $ Common shareholders: $ $ b. If there are one year's dividends in arrears on the preferred stock, how much in total dividends, and in dividends per share, does Sinclair pay to each class of stock? Total Dividends Dividends per Share Preferred shareholders: $ $ Common shareholders: $ $