P13-3A At the beginning of its first year of operations, Northwoods Limited has 5,000, $4 preferred shares and 50,000 common shares. Instructions Using the format shown below, allocate the total dividend paid in each year to the preferred holders, assuming that the preferred shares are (a) noncumulative, and (b) cumulative. common share- Year Dividend Paid Noncumulative Preferred Common Cumulative $20,000 15,000 30,000 35,000