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

Adam's Athletic Apparel has $1,600$ shares of $5\%,$$$100$ par value preferred stock the company issued at the beginning of $2023.$ All remaining shares are common stock. The company was not able to pay dividends in $2023,$ but plans to pay dividends of $$17,000$ in $2024.$

Required:

& $2.$ How much of the $$17,000$ 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,$$$,8,000,$$$,8,000],[$Preferred dividends for $2024,,1,000,,9,000],[$Remaining dividends to common stockholders,,$17,000,,17,000],[$Total dividends,$$,26,000,$$$,34,000]]$