On December 31, 2020, Monaco Ltd. had outstanding 2,000 no par value, $6, cumulative preferred shares and 30,000 no par value common shares. At this time, dividends in arrears on the preferred shares were $6,000. Cash dividends declared in 2021 totalled $30,000. The amounts paid to each class of shares were

Preferred Shares

1)$6,000

2)$12,000

3)$18,000

4)$24,000

Common Shares

1)$24,000

2)$18,000

3)$12,000

4)$6,000