A corporation had the following stock outstanding when the company's board of directors declared : cash dividend during the current year: Preferred stock, $10 par, 4%, 50,000 shares issued Common stock, $1 par, 750,000 shares issued ........ Total ..... $ 500,000 750.000 $ 1,250,000 Allocate the cash dividend between the preferred and common stockholders assuming the preferred cumulative and nonparticipating and dividends are one year in arrears. A corporation had the following stock outstanding when the company's board of directors declared : cash dividend during the current year: Preferred stock, $10 par, 4%, 50,000 shares issued Common stock, $1 par, 750,000 shares issued ........ Total ..... $ 500,000 750.000 $ 1,250,000 Allocate the cash dividend between the preferred and common stockholders assuming the preferred cumulative and nonparticipating and dividends are one year in arrears