At December 31, 2019 and 2020, Gee Corp

Short Answer

At December 31, 2019 and 2020, Gee Corp. had outstanding 3,000 no par value, $ 8, cumulative preferred shares and 10,000 no par value common shares. At December 31, 2019, dividends in arrears on the preferred shares were $ 12,000. Cash dividends declared in 2020 totalled $ 45,000. What amounts were payable on each class of shares?