Garnet, Inc., prepared the following stockholders' equity section of its balance sheet on December 31, 2016 (Click the icon to view the data.) Garnet didn't pay any dividends in 2014 and 2015. In 2016 the company declares dividends of $23,000. How much of this dividend goes to preferred stockholders? How much goes to common stockholders? Assume the preferred stock is cumulative. Data Table Garnet's preferred stock dividend for 2016 Garnet's common stock dividend 2016 Stockholders' Equity Paid-in capital: Preferred stock, 1 %, $70 par , 10,000 shares authorized, 100 shares issued and outstanding 7,000 Common stock, $5 par, 24,000 shares authorized, 15.000 shares issued and outstanding 75,000 75,000 excess of par-common Paid-in capital $ 157,000 Total paid-in capital 90.000 Retained eamings $ 247,000 Total stockholders' equity Print Done Enter any number in the edit fields and then click Check