Michigan Manufacturing, Inc., reported the following at December 31, 2018, and December 31, 2019: (Click the icon to view the data.) Michigan Manufacturing has paid all preferred dividends only through 2015. Requirement 1. Calculate the total amounts of dividends to both preferred and common stockholders for 2018 and 2019 if total dividends are $40,000 in 2018 and $84,000 in 2019. Begin with 2018. Calculate the total amounts of dividends to both preferred and common stockholders for 2018 if total dividends are $40,000. Class of Stock Preferred Common Total 2018 Dividends Data table Stockholders' Equity Preferred stock, cumulative, $0.50 par, 6%, 55,000 shares issued Common stock, $0.30 par. 9,130,000 shares issued $ 27,500 2,739,000 Print Done - X