Ferriss Imports has the following stock outstanding:
15,000 shares of $90 par value, 8% cumulative preferred stock
100,000 shares of $2 par value, common stock
The company declares and pays the following dividends for the past four years:
2009 $ 50,000
2010 $318,000
2011 $262,000
2012 No dividends are paid
Compute the total cash dividends paid to each class of stock in 2009 through 2012.