he outstanding share capital of Sheng Inc. includes 55,000 shares of $9.60 cumulative preferred and 90,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends:

YearTotal Dividends Declared2021$0 2022 555,000 2023 1,138,000 2024 555,000

Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years.

The outstanding share capital of Sheng Inc. includes 55,000 shares of $9.60 cumulative preferred and 90,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends: Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years