income of $123,000; Year 3 , net income of $223,000. The corporation did not pay Required a. How much is the dividend arrearago as of January 1, Year 2 ? b. Assume that the board of directors declares a $54,500 cash dividend at the end of sear 2 gerner preferred dividends are due), How will the dividend be divided between the preferred and commen a Complete this question by entering your answers in the tabs below. How much is the dividend arrearage as of January 1 , Year 2 ? Assume that the board of directors declares a $54,500 cash dividend at the the of rear 2 (remswive that the Yuar it