Denson, Inc. has 10,000 shares of 7%, $100 par value, cumulative preferred stock and 40,000 shares of $1 par value common stock outstanding at December 31, 2014. There were no dividends declared in 2013 and 2012. The board of directors declares a $120,000 dividend in 2014.

a). What is the amount of dividends received by the common stockholders in 2014?

b). what if the preferred stock is non-cumulative, what is the amount of dividends received by the common stockholders in 2014?