At December 31, 2022, ABC Corporation has 5,000 shares of $20 par 4% preferred stock outstanding and 30,000 shares of $10 par common stock outstanding. A $75,000 dividend is declared. No dividends were paid in 2020 or 2021.

Required: For each of the independent scenarios below, allocate the dividend distribution

between the preferred and common stockholders

A. Assume the preferred stock is noncumulative and nonparticipating.

B. Assume the preferred stock is cumulative but nonparticipating

C. Assume the preferred stock is cumulative and participating

Preferred Stock Common Stock Total

Dividends in Arrears

Current Year Dividend

Remainder