27. Yacht & Beach Company began operations on January 1, 2015, and issued preferred and common stock. The stockholders' equity section of the Yacht & Beach Company's balance sheet immediately after the issuance of the preferred and common stock was as follows: Preferred stock, No par, $4 annual dividend, 54,000 shares issued and outstanding $ 4.800,000 Common stock, $2 par, 1,100,000 shares issued and outstanding 2. 200,000 Additional paid-in capital - common 21,600,000 Retained earnings Total stockholders' equity $28,600,000 Dividend payments were as follows: 2015 SO 2016 $100,000 2017 $400,000 2018 $720,000 No additional shares of preferred or common stock were issued after January 1, 2015, nor did the company ever have treasury stock. How would the dividends be distributed for 2015 through 2018 between the preferred stock and the common stock if: a. the preferred stock were cumulative? b. the preferred stock were noncumulative