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The outstanding sharecapta of Shery Company includes 10,000 shares of $10 cumulative preferred and 100,000...

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Accounting

The outstanding sharecapta of Shery Company includes 10,000 shares of $10 cumulative preferred and 100,000 common shares.

The preferred shares were issued as follows.

- 4,000 on the first day of year 1; and

-6,000 on the first day of year 2

During its four years of operation,the corporation declared and paid the following amounts in dividends on the last day of each year.

Year 1-$30,000 Year 2-$10000 Year 3-$125,000 Year 4-$250,000

REQUIRED- Determine the dividends paid in each year to each class of shareholder.

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