This problem consists of two parts. Part I A portion of the Stockholders' Equity section of Cailey Corporation's balance sheet as of December 31, 20X3, appears below. Dividends have not been paid for the years 20X1 and 20X2. There has been no change in the number of shares of stock issued and outstanding during these years. Assume that the board of directors of Cailey Corporation declares a dividend of $21,780 after completing operations for the year 20X3. Stockholders' Equity Preferred Stock (8% cumulative, $50 par value, 10,000 shares authorized) At Par Value (1,500 shares issued) $ 75,000 Common Stock (no-par value, with stated value of $10, 50,000 shares authorized) At Stated Value (14,000 shares issued) 140,000 Required: Compute the total amount of the dividend to be distributed to preferred stockholders. Compute the amount of the dividend to be paid on each share of preferred stock. Compute the total amount of the dividend available to be distributed to common stockholders. Compute the amount of the dividend to be paid on each share of common stock. Compute the amount of dividends in arrears (if any) that preferred stockholders may expect from future declarations of dividends. Part II Use the information given in