If two years preferred dividends are in arrears and the board of directors declares cash dividends of $13,200, what total amount will be paid to the preferred and to the common shareholders?

Raphael Corporations common stock is currently selling on a stock exchange at $198 per share, and its current balance sheet shows the following stockholders equity section: Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 60,000 Common stock$___ par value, 4,000 shares authorized, issued, and outstanding 80,000 Retained earnings 370,000 Total stockholders equity $ 510,000