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AI Corporation issued 100,000 shares of $20 par value, cumulative, 8% preferred stock on January 1, 2011, for $2,100,000. In December 2013, AI declared its

AI Corporation issued 100,000 shares of $20 par value, cumulative, 8% preferred stock on January 1, 2011, for $2,100,000. In December 2013, AI declared its first dividend of $500,000. If the preferred stock is not cumulative, how much of the $500,000 would be paid to common stockholders? If the preferred stock is cumulative, how much of the $500,000 would be paid to common stockholders

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