The answer is within the image. However, what is the process to get the values for preferred and common stock dividends?

ABC Corporation was organized on January 1, 2019. During its first year, the corporation issued 100,000 shares of $5 par value preferred stock and 400,000 shares of $1 par value common stock. At December 31, the company declared the following cash dividends: Instructions Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 8% and cumulative