Egyptian Enterprises has both common and preferred stock. There are 110,000 shares of $1 par common stock outstanding and 4,000 shares of $9 par, 11% cumulative preferred stock outstanding. The company did not pay any dividends in 2015. Distribute dividends to each class of stockholders using the following information:

Year	Dividends Declared
2016	$6,500
2017	$6,000
2018	$6,500