Stock issued and outstanding for Cowboy Ice Cream (CIC) at January 1, Year 2 is listed below: 7 1. 69,000 shares of $11 par common stock 2. 8,000 shares of $130 par, 6 percent, noncumulative preferred stock. On July 10, CIC declared the annual cash dividend on its 8,000 shares of preferred stock and a $4 per share dividend for the common shareholders. The dividend will be paid on August 1 to the shareholders of record on July 20. 1521 Required Determine the total amount of dividend to be paid to the preferred shareholders and common shareholders. Preferred stock Common stock Total dividend