Dividend Distribution Lakeside Company has the following shares outstanding: 15,000 shares of $50 par value, 3,0% cumulative preferred stock 60,000 shares of $10 par value common stock . The company declared cash dividends amounting to $120,000. a. If no dividends in arrears on the preferred stock exist, how much in total dividends, and in dividends per share, is paid to each class of stock? b. If one year of dividends in arrears exist on the preferred stock, how much in total dividends, and in dividends per share, is paid to each class of stock? Round per share amounts to two decimals. Preferred Stock Total a. No dividends in arrears $ 120,000 x $ b. Dividends in arrears 120,000 x Common Stock Per share Total 2,250 x $ Ox $ 2,250 x 0 x Per share Check