San Diego Company has 4,000 shares of $100 par value, 7% cumulative preferred stock outstanding. In addition, the company has 10,000 shares of common stock outstanding. The company began operations and issued both classes of stock on January 1, 2004. The total amount of cash dividends declared and paid during each of the first four years of the company€™s life is shown below. Complete the table by indicating the dollars of dividends that should be paid each year to each class ofstock.

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Total Dividends Pald Dividends to Preferred Dividends to Common Unpald Dividends to Preferred Year 2004 2005 2006 2007 $50,000 10,000 45,000 70,000