Dhaliwal Corporation has 10,000 shares of \(\$ 3.50\), no-par preferred stock and 50,000 shares of no-par common stock outstanding. Dhaliwal declared and paid the following dividends during a three-year period: \(19 \mathrm{X} 1, \$ 30,000 ; 19 \mathrm{X} 2, \$ 80,000\); and \(19 \mathrm{X} 3, \$ 215,000\).

\section*{Required}

1. Compute the total dividends to preferred stock and common stock for each of the three years if:

a. Preferred is noncumulative and nonparticipating.

b. Preferred is cumulative and nonparticipating.

2. For case (1b), record the declaration of the \(19 \times 3\) dividends on December \(28,19 \times 3\), and the payment of the dividends on January 17, 19X4.