Determine the amount of dividends on preferred stock $($ L$010-3)$

E$10-5$ Nathan's Athletic Apparel has $2,000$ shares of $5\%,$ $$100$ par value preferred stock the company issued at the beginning of $2023.$

All remaining shares are common stock. The company was not able to pay dividends in $2023,$ but plans to pay dividends of $$22,000$ in

Required:

Assuming the preferred stock is cumulative, how much of the $$22,000$ dividend will be paid to preferred stockholders and how much will

be paid to common stockholders in $2024?$

Assuming the preferred stock is noncumulative, how much of the $$22,000$ dividend will be paid to preferred stockholders and how much

will be paid to common stockholders in $2024?$