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Exercise 6: (15 points) Corporation has 2,000 shares outstanding of $2 cumulative preferred shares and 20,000 common shares outstanding No dividends were declared in 2019

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Exercise 6: (15 points) Corporation has 2,000 shares outstanding of $2 cumulative preferred shares and 20,000 common shares outstanding No dividends were declared in 2019 and 2020. Touring 2021, the total dividends declared amount to $15,000. Calculate the total amount of dividends payable to each class of shares in 2021. (show your calculations)

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