PROBLEM 1 Pattering Corp. has 4,000 shares of $10 par common stock outstanding and 1,000 shares of $100 par 8% cumulative preferred stock outstanding. Pattering expects to pay annual dividends of $7,000, $9,000, $28,000, and $48,000 respectively for the next four years. Instructions: By completing the following form, indicate how the dividends should be distributed to the preferred stock and common stock. Preferred Dividends Common Dividends Year Total Dividends Tota Per Share Total Per Share $ 7,000 9,000 28,000 48,000 2 4