QUESTION 10-DISTRIBUTION OF DIVIDENDS Snowball Company, since it was organized in January 2015, has had outstanding 25,000 shares of S10 non-participating preferred share and 38,000 shares of no-par value common shares. It has declared and paid dividends each year as shown below Required: Calculate and present in the blanks below the total dividends distributed to each the assumption given. Assume Preferred Shares are Cumulative DividendsPreferred Dividend Common Dividend Year Declared and Paid 2015 $200,000 2016 S536,000 2017 S360,000 Total $1,096,000