Exercise 10-74 (Algorithmic) Cumulative Preferred Dividends Capital stock of Barr Company includes: Common stock, $5 par, 650,000 shares outstanding $3,250,000 Preferred stock, 15% cumulative, $60 par 10,000 shares outstanding 600,000 As of December 31, 2018, 2 years' dividends are in arrears on the preferred stock. During 2019, Barr plans to pay dividends that total $234,000 Required: If an answer is zero, enter "0" 1. Determine the amount of dividends that will be paid to Barr's common and preferred stockholders in 2019. Total dividend to preferred stockholders Total dividend to common stockholders 2. If Barr paid $306,000 of dividends, determine how much each group of stockholders would receive Total dividend to preferred stockholders Total dividend to common stockholders