Dividends on Preferred and Common Stock KSL, Inc., has $300,000 of 10% preferred stock and $200,000 of common stock outstanding, each having a par value of $10 per share. No dividends have been paid or declared during 2013 and 2014. As of December 31, 2015, it is desired to distribute $140,000 in dividends. How much will the preferred stockholders and common stockholders receive under each of the following assumptions: The preferred stock is noncumulative. (b) The preferred stock is cumulative