Colliers, Inc. has 105,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the amount of $2 per share, but because of cash flow problems, the company did not pay any dividends last year. The board of directors plans to pay dividends in the amount of $700,000 this year.

What amount will go to preferred stockholders?

Dividend Payment to Preferred Stockholders

How much will be available for common stock dividends?

Dividend Payment to Common Stockholders