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Lopez Company's outstanding stock consists of 1,500 shares of noncumulative 5% preferred stock with a...

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Accounting

Lopez Company's outstanding stock consists of 1,500 shares of noncumulative 5% preferred stock with a $100 par value and 14,000 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends:
Year 1- $5,000
Year 2- $12,000
Year 3- $43,000
Required:
Over the three-year period, what is the total amount of dividends paid to a) preferred shareholders and b) common shareholders?
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