Problem 3 The Maxwell Corporation had the following stock outstanding for 20=1 and 2000 : 5% Preferred Stock, $100 par value, 50,000 shares outstanding Common Stock, $5 par value, 100,000 shares outstanding The Board of Directors declared total dividends of $200,000 in 2022 and $400,000 in 2023. INSTRUCTIONS: Determine the amount of the dividends to be allocated to the preferred stockholders and the and 2023 under the following independent situations: a. The preferred stock in not cumulative. b. The preferred stock is cumulative