This is a study guide with the answers already typed in. The answers are circled in blue pen, but I dont know how you get those answers. I would like a step by step process on how to get the answers.

Year 2015 Dakota's outstanding stock consists of 80,000 shares of 8% preferred stock with a par value of $5 and corporation declared and paid the following dividends: 250,000 shares of common stock with a $1 par value. During its first four years of operation, the Total cash dividends $ 15,000 2016 25,000 2017 2018 125,000 Determine the amount of dividends paid each year to each of the two classes of stockholders: Preferred and common. Then determine the total dividends paid to each class of stockholders for the four years 75,000 a) If the preferred stock is noncumulative, Year Preferred Common 2015 15,000 2016 2 25,000 32.000 32,000 2017 43,000 93,000 2018 Totals 104,000 136,000 b) If the preferred stock is cumulative. Common Year 2015 2016 2 Preferred 15,000 25,000 56,000 32,000 128,000 19,000 2017 93,000 2018 112,0000 Totals