Problem 12-5B Dividend allocation LO5 excel Kangaroo Media Inc. has issued and outstanding a total of 40,000 shares of $720 preferred shares and 120,000 of common shares. The company began operations and issued both classes of shares on January 1, 2016. Required group completing 1. Calculate the total dividends to be paid to each of shareholders in each year by the following chart. Assume that the preferred shares are cumulative. Common Preferred Dividends Declared Dividends Dividends and Paid Year $360,000 60,000 2017 150,000 2018 q00,000 2019