At December 31, 2013 and 2014, Gee Corp.had outstanding 3,000 no par value, $8, cumulative preferred shares and 10,000 no par value common shares.At December 31, 2013, dividends in arrears on the preferred shares were $12,000.Cash dividends declared in 2014 totalled $45,000.What amounts were payable on each class of shares?

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The Answer of At December 31, 2013 and 2014, Gee Corp.had outstanding 3,000 no par value, $8, cumulative preferred shares and 10,000 no par value common shares.At December 31, 2013, dividends in arrears on the preferred shares were $12,000.Cash dividends declared in 2014 totalled $45,000.What amounts were payable on each class of shares?