4. Exercise 13-7 Exercise 13-7 Dividends on ordinary and cumulative preference shares C2 Use the data in Exercise 13-6 to determine the amount of dividends paid each year to each of the two classes of shareholders assuming that the preference shares are cumulative. Also determine the total dividends paid to each class for the four years combined. 3. Exercise 13-6 Exercise 13-6 Dividends on ordinary and noncumulative preference shares Check 4-year total paid to preference, $94,000 Wade's outstanding shares consist of 40,000 noncumulative 7.5% preference shares with a $10 par value and also 100,000 ordinary shares with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends. Determine the amount of dividends paid each year to each of the two classes of shareholders: preference and ordinary. Also compute the total dividends paid to each class for the four years combined. 2018 2019 2020 2021 $10,000 24,000 $100,000 196,000