York's outstanding stock consists of 80,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first 5 four years of operation, the corporation declared and paid the following total cash dividends: 6. 7 Year 1 total cash dividends $20,000 8 Year 2 total cash dividends 28,000 9 Year 3 total cash dividends 200,000 10 Year 4 total cash dividends 350,000 11 12 Required: 13 Preferred Preferred Preferred Common Common Shares Dividend % Par Value Shares Par Value 80,000 7.5% $5 200,000 $1 B (Use cells A2 to J10 from the given information to complete this question.) Dividend per Number of Par Value per Preferred Share Dividend Preferred Preferred Preferred Rate Share Shares Dividend Annual Preferred Dividend: Year Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year-end 1 $20,000 2 28,000 28,000 3 200,000 4 350,000 350,000 Totals $598,000