6 Exercise 12-11 Allocating dividends between common and cumulative preferred shares LO5 The outstanding share capital of Sheng Inc. includes 40,000 shares of $9.60 cumulative preferred and 75,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends: Total Dividends ats Year Declared 2018 $ e 2019 410,000 eBook 2020 2021 1,028,000 410,000 Print eferences Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years. Total Dividends 2018 2019 2020 2021 Total Preferred Common Total