Question 14 (4 points) The shareholders' equity of Lap Co. includes the following: Common Stock (par $1) $100,000 Paid-in Capital - Excess of Par, Common 900,000 Preferred Stock, 10% 500,000 Lap's preferred stock is cumulative and nonparticipating. Lap declared and paid cash dividends of $20,000. $40,000, and $120,000 in 2018, 2019, and 2020, respectively. The amount of dividends paid to preferred and common shareholders in 2020 were: $60,000 to preferred and $60,000 to commo $90,000 to preferred and $30,000 to common $50,000 to preferred and $70,000 to common $80,000 to preferred and $40,000 to common