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 $223,000. 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 180,000 X Total dividend to common stockholders 43,000 X 2. If Barr paid $333,000 of dividends, determine how much each group of stockholders would receive Total dividend to preferred stockholders 180,000 x 153,000 X Total dividend to common stockholders Feedback Check My Wor 18 2. The cumulative feature of preferred stock requires corporations to pay all current and unpaid prior period dividends to preferred stockholders before paying any dividends to common shareholders