Question - The XYZ Corporation has outstanding 50,000 shares of $5 par common stock and 10,000 shares of cumulative $10 preferred stock, $100 par. The amount available for dividends in year 1 is $70,000 and year 2 is $220,000. Calculate the total dividends and the per-share dividends declared on each class of stock for year 1 and year 2. Show all work for year 1 and year 2.