Halverstein Company's outstanding stock consists of 7000 shares of cumulative 5% preferred stock with a $10 par value and 3,000 shares of common stock with a S1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends Dividend Declared Year 2016 2017 2018 $ 6,000 $ 32,000 The amount of dividends paid to preferred and common shareholders in 2018 is O O O $4,500 preferred: $27,500 common $3,500 preferred: $28,500 common $8,000 preferred: $24,000 common $9,000 preferred: $23,000 common $1.000 preferred: $31,000 common O