Problem 2 The Miller Corp has $1,000,000 of 9% preferred stock issued and outstanding and $500,000 of $5 par value common stock outstanding. The following dividends were declared: 2014.. 2015... Total Dividend ..$ 0 40,000 60,000 170,000 600,000 2016..... 2017. 2018................. Instructions a. Calculate the allocation of the dividends between the preferred stock and the common stock for each year if the preferred is non-cumulative. b. Calculate the allocation of the dividends between the preferred stock and the common stock for each year if the preferred is cumulative. Chen Corporation Retained Earnings Statement For the Year Ended December 31, 2019 CD OUT AWN F 1 Problem 2 a. Non Cumulative Total Dividend Preferred 7 Common Year 2014 2015 2016 2017 2018 $40,000 $60,000 $170,000 $600,000 b. Cumulative Total Dividend Preferred Common Year 2014 2015 2016 2017 2018 $40,000 $60,000 $170,000 $600,000 Problemi Problem 2 Pro