The shareholders' equity of WBL Industries includes the items shown below. The board of directors of WBL declared cash dividends of $8 million, $20 million, and $150 million in its first three years of operation2011, 2012, and 2013, respectively. In Millions Common Stock $100 Paid-in-capital -excess of par, common $980 Preferred stock, 8% $200 Paid-in-capital -excess of par,preferred $555 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. Referred Common 2011 2012 2013