Paying Dividends: Common, Preferred Derek Corporation was organized on January 1.2014. The corporation issued 40,000 shares of par $5 par value preferred stock and 400,000 shares of $1 par value common stock. At December 31 in 2014, 2015 and 2016, the company declared the following cash dividends 2014 $ 9,000 2015 $30,000 2016 $70,000 Show the allocation of dividends to each class of stock. assuming the preferred stock dividend is 6% and cumulative