Preferred Stock: 3%, $100 par value, cumulative preferred stock, 15,000 shares issued and outstanding, 200,000 shares authorized Common Stock: $1 par value, 20,000 shares issued and outstanding, 300,000 shares authorized. Anderson company declares the following dividends: 2018: $40,000 2019: $0 2020: $150,000 1. Determine the amount of dividend that goes to the preferred and common shareholders, if any, using the chart. below. 2. Calculate the dividends per share for preferred and common stock each year. 3. Prepare the journal entries for the dividends in 2020. 2018 Dividends Declared Preferred Dividend Common Dividend Preferred Div/Share Common Div/Share 2019 2020