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Problem 3: Dividend Transactions for Non-Cumulative Preferred to Patterson, Inc. has the following shares outstanding Total Preferred stock (7%) 10,000 shares. $20 par $200.000 Common stock 100,000 shares at $5 par 5500,000 Assume that dividends are paid as follows: Year 1: $12,000 Year 2: $28.000 Use the above information to answer questions 7 and 8. Be sure to show your calculations and how much is allocated to both preferred and common stock: D Question 7 2 pts Determine how much of the year 1 dividend is allocated to the preferred and common stockholders. Edit View Insert Format Tools Table 12ptParagraph I o Avev : words D Question 8 2 pts Determine how much of the year 2 dividend is allocated to the preferred and common stockholders. Edit View Insert Format Tools Table 12pt Paragraph