The shareholders' equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $16 million, $23 million, and $140 million in its first three years of operation-2018, 2019, and 2020, respectively. Common stock Paid-in capital-excess of par, common Preferred stock, 8% Paid-in capital-excess of par, preferred ($ in millions) $150 820 300 540 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 vear- end 2018 2019 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 Annual Dividend Preferred Rate Dividend Annual Preferred Dividend: Dividends in Paid toArrears at year- Total Cash Dividend Paid Preferred Common Paid to end 2018 2019 2020 Total 0 S 0