iew Policies urrent Attempt in Progress At the beginning of its first year of operations, Waterway Limited has 5,100, $4 preferred shares and 49,000 common shares. Using the format shown below, allocate the total dividend paid in each year to the preferred and common shareholders, assuming the preferred shares are (a) noncumulative, and (b) cumulative. (a) Year Dividend Paid Noncumulative Preferred 1 $20,400 2 15,400 3 4 34,400 35,400 tA Common (b) Cumulative Preferred $