York's outstanding stock consists of 80,000 shares of noncumulative 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 four years of opera- tion, the corporation declared and paid the following total cash dividends. Determine the amount of divi- dends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined. Year 1 total cash dividends...... Year 2 total cash dividends. $20,000 28,000 Year 3 total cash dividends. Year 4 total cash dividends...... $200,000 350,000 Use the data in Exercise 13-11 to determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. On October 10, the stockholders' equity section of Sherman Systems annears as follows Exercise 13-11 Dividends on common and noncumulative preferred stock C2 Check 4-year total paid to preferred, $108,000 Exercise 13-12 Dividends on common and cumulative preferred C2 Evvel 49 49