Cable Inc. December 31, 2019 partial Balance Sheet, Shareholders' Equity section, is shown below. Cable Inc Partial Balance Sheet December 31, 2019 Shareholders' Equity Preferred Shares $0.50; 100,000 issued & outstanding $ 2,500,000 Common Shares unlimited authorized, 1,000,000 issued & outstanding 5,000,000 Retained Earnings 180,000 Total Shareholders' equity $7,680,000 During 2020: February 1: 500.000 common shares were issued for $3,000,000 cash July 1: the preferred dividend was declared. August 15: the preferred dividend was paid. December 31: Net Income for the year was $150,000. 1. What dollar amount of dividends was paid to the preferred shareholders on August 15% b. What was the balance in Retained Earnings on December 31, 20207 Show your math. What was the Total Shareholders' Equity amount on the December 31, 2020 balance sheet