Problem 12-5A Dividend allocation LO5 Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020. Preferred shares, $4.54 non-cumulative, 51,000 shares authorized and issued* Common shares, 86,000 shares authorized and issued* "All shares were issued during 2018. $3,264,000 1,376,000 During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule. Required: Part A 1. Calculate the total dividends paid in each year to the preferred and to the common shareholders. Year 2018 2019 2020 Total for three years Preferred Dividend Common Total Dividend Dividend $ 166,000 406,000 566,000 $ 1,138,000