The outstanding stock of the Gardner Corp. consisted of 1,000 shares of $100 6%, cumulative preferred stock and 1,000 shares of $100 par common stock. Dividends were paid over a five year period as follows. Show distribution of dividends for each year. (Show work)

Preferred Common 1st year $14,000 2nd year 18,000 3rd year 5,000 4th year none 5th year 30000