I need to understand how to answer this part of my assignment.
Cash dividend declared for 2006 and 2007 are 8m and 20m respectively.
Common stock is 100m. Paid-in capital - excess of par is 980m.
Preferred stock, 8%, 200m, Paid in capital in excess of par is 555m.
How is the dividend split between preferred and common stock

thanks,
Dolphyne