Green Bay Company's outstanding stock consists of 450 shares of noncumulative 540 preferred stock with a 510 par value and 5500 shares of common stock with a 51 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid year 1 35,000 year 2 s 7000 year 3 44,000 The amount of dividends paid to preferred and common shareholders in year 1st O $225 preferred 534775 common 529 7500 preferred: 55250 common $4500 preferred, 530,500 common 535.000 preferred so common $17,500 preferred $17.500 common