Exercise $10-5($Algo$)$ Determine the amount of dividends on preferred stock $($LO$10-3)$

Alexander's Athletic Apparel has $1,700$ shares of $5\%,$ $$100$ par value preferred stock the company issued at the beginning of $2023.$ All remaining shares are common stock. The company was not able to pay dividends in $2023,$ but plans to pay dividends of $$18,000$ in $2024.$

Required:

& $2.$ How much of the $$18,000$ dividend will be paid to preferred stockholders and how much will be paid to common stockholders in $2024,$ assuming the preferred stock is cumulative? What if the preferred stock were noncumulative?

$\backslash$table$[[,$Cumulative,$\backslash$table$[[$Non$],[$Cumulative$]]],[$Preferred dividends in arrears for $2023,,],[$Preferred dividends for $2024,,],[$Remaining dividends to common stockholders,,$],[$Total dividends,,$]]$