M8-29. Determining Cash Dividends to Preferred and Common Shareholders Hobson Company has outstanding 40,000 shares of $50 par value, 6% cumulative preferred stock and 100,000 shares of S10 par value common stock. The company declares and pays cash dividends amount- o preferred dividends in mean how much in total dividends and in dividends per share If there are one year's dividends in arrears on the preferred stock, how much in total dividends, and ing to $280,000. does Hobson pay to each class of stock? b. in dividends per share, does Hobson pay to each class of stock