Garnet Trust has the following classes of stock: (Click the icon to view the data.) Requirements 1. Garnet declares cash dividends of $35,000 for 2016. How much of the dividends goes to preferred stockholders? How much goes to common stockholders? 2. Assume the preferred stock is cumulative and Garnet passed the preferred dividend in 2014 and 2015. In 2016, the company declares cash dividends of $38,000. How much of the dividend goes to preferred stockholders? How much goes to common stockholders? 3. Assume the preferred stock is noncumulative and Garnet passed the preferred dividend in 2014 and 2015. In 2016, the company declares cash dividends of $38,000. How much of the dividend goes to preferred stockholders? How much goes to common stockholders? Requirement 1. Garnet declares cash dividends of $35,000 for 2016. How much of the dividends goes to preferred stockholders? How much goes to common stockholders? (Complete all input boxes. Enter "0" for any zero amounts.) Garnet's dividend would be divided between preferred and common stockholders in this manner: Data Table Total Dividend Dividend to preferred stockholders: Dividend arrears Preferred Stock5%, $11 Par Value; 6,000 shares authorized, 4,500 shares issued Current year dividend and outstanding Total dividend to preferred stockholders Common Stock-$0.30 Par Value; 1,900,000 shares authorized, 1,300,000 shares issued and outstanding Dividend to common stockholders