Illuminating Ventures Corporation had the following shares issued and outstanding in the current and previous year: 3 marks 6,838 $3 Preferred shares, non-participating, number of shares issued and outstanding throughout the current fiscal year $3 Preferred shares, non-participating, number of shares issued and outstanding throughout the previous fiscal 5,844 year Common shares, number of shares issued and outstanding 46,037 The board of directors declared a dividend on the last day of the current fiscal year. $ Amount of cash dividend declared by the board of directors 84,239 Required: Allocate the dividend between the preferred and common shareholders assuming the preferred shares are cumulative and are 1 year in arrears.