QUESTION 6 The shareholders equity section of Mayberry Corporation, as of the end of 2021, follows. Mayberry began operations in 2017. The 5,000 shares of preferred stock have been outstanding since 2017.

Preferred stock (10,000 shares authorized, 5,000 issued, $5 dividends, $10 par value)	$50,000
Common stock (500,000 shares authorized, 200,000 issued, 50,000 held in treasury, no par value)	1,600,000
Additional paid-in capital	140,000
Retained earnings	110,000
Less: Treasury stock	(80,000)
Total shareholders equity	$1,820,000

The company has paid the following total cash dividends since 2017:

2017	$0
2018	30,000
2019	80,000
2020	15,000
2021	40,000

SKIP Part a

1. Compute the dividends paid to the preferred and common shareholders for each of the years since 2017 assuming that missed preferred dividends never have to be paid in future years.
2. Repeat (a) but assume that missed preferred dividends must be paid first in future years when dividends are declared.

Required:

After completing Problem 6 provide the following answers in whole numbers with commas and with no decimal places or dollar signs. Negative amounts or Losses should be listed in parenthesis.

1. What amount is the dividends paid to the preferred shareholders for the year 2018, 2019, 2020 and 2021 assuming that missed preferred dividends must be paid first in future years when dividends are declared?
2. What amount is the dividends paid to the common shareholders for the year 2018, 2019 and 2020 assuming that missed preferred dividends must be paid first in future years when dividends are declared?