Music Co. outstanding stock includes of: 65,000 preferred stocks with a $2.5 PAR value per share (5% dividends). 100,000 common stocks with a $1 PAR value. During its first three years of corporation, the corporation declared and paid the following cash dividends: Cash Cumulative Not-Cumulative Years dividends Preferred Dividend Common Dividend Preferred Dividend Common Dividend 2019 8,250 2020 8,000 2021 8,250 Required: Determined the amounts of dividends should be paid each year to each of the two classes of stocks assuming: 1) Preferred stocks are cumulative. 2) Preferred stocks are not-cumulative