The following elements of shareholder's equity are adapted from the balance sheet of Johnnie Power Machines Ltd.: Shareholder's Equity Preferred shares, $3 cumulative, 100,000 shares authorized, 20,000 shares issued and outstanding $170,000 Common shares, 200,000 shares authorized, 60,000 shares issue and outstanding 500,000 The company has paid all dividends through 2016. No dividends were declared in 2017 and 2018. Required 1 Compute the dividends paid to preferred shareholders and to common shareholders for 2019 and 2020 if total dividends declared are $200,000 in 2019 and $75,000 in 2020. Round your answers to nearest dollar