4 points) Dividend Allocation Durden Co. has $10 par value, 12% cumulative preferred stock. There the preferred stock. The company also has 100,000 shares of $1 par value common stock. No di paid in the years 2003, 2004, 2005, and 2006. In 2007, the company paid $35,000 in dividend are 10,000 shares issued and outstanding of vidends had been s, In 2008, the in dividends. Determine the allocation of dividends between preferred and common pany paid $65,000 com stockholders for 2007 and 2008. Year 2003 Preferred Stock Common Stock Carryover 2004 2005 2006 2007 2008 Totals