Exercise 10-64 (Algorithmic) Cumulative Preferred Dividends Share capital of Barr Company Ltd. includes: $3,250,000 Common shares, no par, 650,000 shares issued and outstanding Preferred shares, 15% cumulative, $60 stated value, 10,000 shares issued and outstanding 600,000 As of December 31, 2017, 2 years' dividends are in arrears on the preferred stock. During 2018, Barr plans to pay dividends that total $251,000. Required: If an answer is zero, enter "0". 1. Determine the amount of dividends that will be paid to Barr's common and preferred shareholders in 2018. Total dividend to preferred shareholders Total dividend to common shareholders 2. If Barr paid $342,000 of dividends, determine how much each group of shareholders would receive. Total dividend to preferred shareholders Total dividend to common shareholders $