INC's ledger shows the following balances on December 31, 2020 Pred shares outstanding 15,000 shares $725,000 Cimon shares outstanding 55,000 shares 4,000,000 Retained eamings 890,000 Instructions Acuming that the directors decide to declare total dividends in the amount of $400,000, determine how much each class of shares should receive under each of the conditions that follow Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $2.50 per share The proferred shares are cumulative and fully participating. Round the intermediate percentage calculation to four decimal places and the final amount to the nearest dollar The preferred shares are non-cumulative and non-participating. Round to the nearest dollar