w the delaye issue price per share of the preferred shares at December 31, 2017? Exercise 12-14 Allocating dividends between common and cumulative preferred shares 105 The outstanding share capital of Sheng Inc. includes 43.000 shares of $9.60 cumulative preferred and -82,000 common shares, all issued during the first year of operations. During its first four years of opera- tions, the corporation declared and paid the following amounts in dividends: Total Dividends Declared Year 2018 480,000 201........... 1,008,000 2010........... 480,000 202.......... 1,058,000 CHAPTER 12 Organization and Operation of Corporations Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years. Exercise 12-12 Allocating dividends between common and non-cumulative preferred shares L05 Determine the total dividends paid in each year to each class of shareholders of Exercise 12-1 under the assumption that the preferred shares are non-cumulative. Also determine the total dividends paid to each class over the four years. Fyercise 12.12 Identifuing characteristics of referred charoe IAE