The shareholders equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $6 million, $14 million, and $160 million in its first three years of operation2018, 2019, and 2020, respectively.

	($ in millions)
Common stock	$	110
Paid-in capitalexcess of par, common		930
Preferred stock, 5%		220
Paid-in capitalexcess of par, preferred		650

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 as 10).)

The shareholders equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $6 million, $14 million, and $160 million in its first three years of operation2018, 2019, and 2020, respectively.

	($ in millions)
Common stock	$	110
Paid-in capitalexcess of par, common		930
Preferred stock, 5%		220
Paid-in capitalexcess of par, preferred		650

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 as 10).)

	Par Value Preferred Stock	Dividend Rate	Annual Preferred Dividend
Annual Preferred Dividend:
	Total Cash Dividend Paid	Paid to Preferred	Paid to Common	Dividends in Arrears at year-end
2018 2019 2020
total