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The shareholder' equity of ILP industries includes the items shown below. The board of directors of ILP declared cash dividends of $16 miltion, $35 million

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The shareholder' equity of ILP industries includes the items shown below. The board of directors of ILP declared cash dividends of $16 miltion, $35 million and $100 miltion in its first three years of operation 2018,2019, and 2020, respectively Required: Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating (Enter your answers in millions (i.e.., 10,000,000 should be entered os 10).)

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