XYZ Limited, since it was organized in January 2014, has had outstanding 1,500, ten-dollar, nonparticipating, preferred shares, and 15,000 common shares. The corporation declared and paid dividends each year as shown below. Calculate the total dividends distributed to each class of shares under each of the assumptions given. Assume Preferred Assume Preferred Shares are Shares are Noncumulative Cumulative Dividends Declared Preferred Common Preferred Common Year and Paid Dividend Dividend Dividend Dividend 2014 $10,000 2015 $36.000 2016 $60,000