Problem:
Norton's outstanding stock consists of (a) 13,0000 shares of noncumulative 8% preferred stock with a $10 par value and (b) 32,500 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.
2009........$8,000
2010.......$24,000
2011......$120,000
2012......$197,000
Determine the amount of dividends paid each year to each of the two classese of stockholders. Also compute the total dividends paid to each for the four years combined.