Cash Dividends

Kerry Company has 1,200 shares of $100 par value, 12% preferred stock and 11,700 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating. Dividends were paid in 2013. Since 2013, Kerry has declared and paid dividends as follows:

2014	$ 0
2015	16,100
2016	30,500
2017	36,000

Required:

1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2015 to 2017. If an amount is zero, enter "0".

Year	Preferred Dividends	Common Dividends
2015	$	$
2016	$	$
2017	$	$

2. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year?

Year	Preferred Dividends	Common Dividends
2015	$	$
2016	$	$
2017	$	$