Preferred and Common Stock Dividends

Delafield Corporation has a single class of common stock and a single class of cumulative preferred stock. The cumulative preferred stock requires the corporation to pay an annual dividend of $$15,000$ to preferred stockholders. On January $1,2023,$ Delafield$$s preferred dividends were $1$ year in arrears. During the $3$ years $(20232025),$ Delafield$$s board of directors determined they would be able to pay $$20,000,$ $$28,000,$ and $$25,000,$ respectively.