value 5.00 points Nowell Inc had the following stock issued and outstanding at January 1, 2016 1. 67,000 shares of no-par common stock. 2. 10,900 shares of $90 par, 8 percent, cumulative preferred stock. (Dividends are in arrears for one year 2015.) On March 8, 2016, Nowell declared a $176.160 cash dividend to be paid March 31 to shareholders of record on March 20 Required a aniea be ad tothe prefered sharehiders versus the connon shareholders? e preferred shareholders versus the common shareholders? Amounts to be deducted should be indicated with minus sign.) Distributed to Shareholders AmountPreferred Common Total dividend declared Preferred arrearage Current preferred dividend Available for common Distributed to common Total distribution 176,160 (78 480) (78,480) 19.200 78,480 78480 19,200 156 960 S19 200