Problem 1 (16 marks) Peter Rabbit Inc. has issued and outstanding a total of 58,000 shares of $6.25 preferred shares and 745,000 of common shares. The company began operations and issued both classes of shares on January 1, 2018. Required 1. Calculate the total dividends to be paid to each group of shareholders in each year by completing the following chart. Assume that the preferred shares are cumulative. Year Dividends Declared Preferred Dividends Common Dividends and Paid 2018 $400,000 2019 280,000 2020 325,000 2021 600,000 Total 1,605,000 2. Calculate the dividends per share to both the preferred and the common shares in 2018 based on the information above. 3. Calculate the total dividends to be paid to each group of shareholders in each year by completing the following chart. Assume that the preferred shares are non-cumulative. Year Dividends Declared Preferred Dividends Common Dividends and Paid 2018 $400,000 2019 280,000 2020 325,000 2021 600,000 Total 1,605,000 4. Calculate the dividends per share to both the preferred and the common shares in 2018 based on the information above