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The outstanding share capital of Sheng Inc. includes 3 7 , 0 0 0 shares of $ 9 . 6 0 cumulative preferred and 7

The outstanding share capital of Sheng Inc. includes 37,000 shares of $9.60 cumulative preferred and 72,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends:
Year Total
Dividends Declared
2021 $ 0
2022380,000
20231,078,000
2024380,000
Required:
Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years.

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