Required information The following information applies to the questions displayed below.) York's outstanding stock consists of 90,000 shares of noncumulative 75% preferred stock with a $5 par value and also 270,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. Year 1 total cash dividends $ 23,000 Year 2 total cash dividends 31,700 Year 3 total cash dividenda 235,000 Year 4 total canh dividends 385,000 Use the data in Exercise 11-10 to determine the amount of dividends paid each year to each of the two classes of stock assuming that the preferred stock is cumulative. (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Annual Preferred Dividend: Par Value per Preferred Share 5.00 Total Cash Dividend Paid 5 23.000 31.700 235,000 385.000 S674.700 Answer is complete but not entirely correct. Dividend Dividend Number of per Preferred Rate Preferred Preferred Shares Dividend Share 7.5% 0.375 90.000 33.750 Paid to Paid to Dividends Preferred Common In Arrears at year-end 23.000 O S 10.750 31,700 0 31,700 235.000 2012503 0 33.750 351,250 0 S 323,450 S 552 500 @ Year 1 Year 2 Year Year 4 Totals o@o In Drace Corporation's first year of business, the following transactions affected its equity accounts. . Issued 5,800 shares of $2 per value common stock for $36. It authorized 20,000 shares. Issued 1450 shares of 12%, $10 per value preferred stock for $41. It authorized 3,000 shares Reacquired 290 shares of common stock for $48 each Retained earnings is impacted by reported net income of $68,000 and cash dividends of $24,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicate by a minus sign.) Answer is not complete DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Paid-in capital in excess of par value common stock S (208.800) Common stock-$2 par value 11,600 Preferred stock $10 par value 14.500 Paid-in capital in excess of par value preferred stock 59.450 Retained Gaming 44,000 Less: Cost of treasury stock Total stockholders' equity $(79.250)