Preferred Stock Dividends Edgefield Corporation has issued 10%, participating, cumulative preferred stock with a total par value of $22,000 and common stock with a total par value of $66,000. Therefore, the preferred stock par value is 1/4 and the common stock par value is 3/4 of the total par value. Edgefield intends to distribute cash dividends of $14,000, and there are no dividends in arrears. What is the dividend distribution to each class of stock if the preferred stock is fully participating?

Preferred Common

Dividends to each class of stock $ $