Stockholders' equity of Ernst Company consists of 91,000 shares of $5 par value, 10% cumulative preferred stock and 335,000 share of $1 par value common stock. Both classes of stock have been outstanding since the company's inception. Ernst did not declare an dividends in the prior year, but it now declares and pays a $150,000 cash dividend at the current year-end. Determine the amount distributed to each class of stockholders for this two-year-old company. Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Shares Prolored Dividend for two yeah Calculation of preferred dividend: Total cash dividend To preferred shareholders To common shareholders