Egyptian Enterprises has both common and preferred stock. There are 70,000 shares of $1 par common stock outstanding and 5,000 shares of $11 par, 9% cumulative preferred stock outstanding. The company did not pay any dividends in 2016. Distribute dividends to each class of stockholders using the following information:

Year	Dividends Declared
2017	$9,000
2018	$9,000
2019	$8,500