Proctoring b Budget Company's outstanding stock consists of 400 shares of noncumulative 5% 36 prefered stock with a $10 par value and 3,700 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends year 1 year 2 year 3 Dividends Declared & Paid $27,000 $5,000 $ 36,000 The amount of dividends paid to preferred and common shareholders in year 1 is: