Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Year 1 total cash dividends Year 2 total cash dividends Year 3 total cash dividends Year 4 total cash dividends $ 13,000 22,000 250,000 400,000 xercise 11-11 (Algo) Dividends on common and noncumulative preferred stock LO C2 rk's outstanding stock consists of 80,000 shares of noncumulative 6.0% preferred stock with a $5 par value and also 300,000 ares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following tal cash dividends: etermine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. ote: Round your "Dividend per Preferred Share" answer to 3 decimal places. Par Value per Preferred Share Dividend Rate Dividend per Preferred Share Number of Preferred Preferred Dividend Shares nnual Preferred Dividend: $ 5.00 6.0% $ 0.300 80,000 $24,000 Dividends in Total Cash Paid to Paid to Arrears at Dividend Paid Preferred Common year-end ear 1 13,000 13,000 $ 0 ear 2 22,000 22,000 0 ear 3 250,000 ear 4 400,000 24,000 otal: 685,000 $ 59,000 $ 0