Stockholders' equity of Ernst Company consists of 76,000 shares of $5 par value. 8% cumulative preferred stock and 260,000 shares of $1 par value common stock. Both classes of stock have been outstanding since the company's inception. Ernst did not declare any dividends in the prior year, but it now declares and pays a $105,000 cash dividend at the current year-end. Determine the amount distributed to each class of stockholders for this two-year-old company. Calculation of preferred dividend: Total cash dividend To preferred shareholders E To common shareholders Required information [T he following information applies to the questions displayed below. J Year 1 total cash dividends $ 11,500 Year 2 total cash dividends 20,700 Year 3 total cash dividends 260,000 Year 4 total cash dividends 410,000 York's outstanding stock consists of 65.000 shares of noncumulative 7.0% preferred stock with a $5 par value and also 110,000 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: Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Annual Preferred Dividend: 410,000 Total: $ 702,200 Required information [The following information applies to the questions displayed below. ] Year 1 total cash dividends $ 11,500 Year 2 total cash dividends 20,700 Year 3 total cash dividends 260,000 Year 4 total cash dividends 410,000 York's outstanding stock consists of 65,000 shares of cumulative 7.0% preferred stock with a $5 par value and also 110,000 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: (Round your "Dividend per Preferred Share" answer to 3 decimal places.) Annual Preferred Dividend: 11 ,500 Year 2 20,700 Year 3 260,000 Year 4 410,000 Totals $ 702,200