On January 1, 2004, a corporation issued 25,000 shares of 10%, $50 par, cumulative preferred stock and 50,000 shares of $30 par common stock. Cash…

On January 1, 2004, a corporation issued 25,000 shares of 10%, $50 par, cumulativepreferred stock and 50,000 shares of $30 par common stock. Cash dividends declared bythe board were as follows. Determine the amount of total dividends and dividends pershare for preferred stockholders and common stockholders.2004 none2005 $100,0002006 $275,0002007 $305,0002008 $355,000