The shareholders equity of WBL Industries includes the items shown below. The board of directors of WBL declared cash dividends of $16 million, $23 million, and $140 million in its first three years of operation2016, 2017, and 2018, respectively. ($ in millions) Common stock $ 150 Paid-in capitalexcess of par, common 820 Preferred stock, 8% 300 Paid-in capitalexcess of par, preferred 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).)

The shareholders' equity of WBL Industries includes the items shown below. The board of directors of WBL declared cash dividends of $16 million, $23 million, and $140 million in its first three years of operation 2016, 2017, and 2018, respectively Common stock Paid-in capital-excess of par, commorn Preferred stock, 8% Paid-in capital-excess of par, preferred $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 Preferred Common Dividends in Arrears at year-end Paid to Paid to 2016 2017 2018 Total 0 S 0 S