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Fields School Supply, Inc. began business in 2015. In order to finance their company, 10,000 shares of $100 par, 3% cumulative preferred stock and 200,000

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Fields School Supply, Inc. began business in 2015. In order to finance their company, 10,000 shares of $100 par, 3% cumulative preferred stock and 200,000 shares of $8 par common stock were issued. Fields School Supply declared the following dividends for its first six years of business 2015 = $ 14,000 2016 = $ 10,000 2017 = $ 40,000 2018 = $100,000 2019 = $ 25,000 2020 = $ 52,000 Complete the chart below to show the allocation of the dividends between the preferred and common stockholders. Year Dividends Declared Preferred Stock Common Stock In Arrears 2015 2016 2017 2018 2019 2020

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