When Crossett Corporation was organized in January, Year 1 immediately issued 4,300 shares of $48 par. 5 percent cumulative preferred stock and 8.500 shares of $7 por common stock, Its earnings history is as follows: Your I, net loss of 515.000 Year 2, ont income of $122,000; Year 3, net income of $206,000. The corporation did not pay a dividend in Year 1. Required a. How much is the dividend arrearage as of January 1 Year 2 b. Assume that the board of directors declares a $53,000 cash dividend at the end of Year 2 fremember that the Yew 1 and Year 2 preferred dividends are due). How will the dividend be divided between the preferied and common stockholders? Complete this question by entering your answers in the tabs below. Required A Required B How much is the dividend arrearage as of January 9, Year 2? Didondatearage Required B >