Review | Question 5 (of 5) | Score Thn Question 5. 2.00 points When Crossett Corporation was organized in January 2016, it immediately issued 5,200 shares of $49 par 6 percent, cumulative preferred stock and 8,000 shares of $9 par common stock. Its earnings history is as follows: 2016, net loss of $16,700; 2017, net income of $64,500; 2018, net income of $89,500. The corporation did not pay a dividend in 2016 Required a. How much is the dividend arrearage as of January 1, 2017 Dividend arrearage b. Assume that the board of directors declares a 548 076 cash dividend at the end of 2017 (remember that d between the preferred and common stockholders? (Amounts to be deducted should be indicated with minus sign.) Distributed to Shareholders AmountPrefered Common Type here to search