Exercise 10-4B Determine the amount of preferred stock dividends (LO10-3) A company has 1,300 shares of 7%,$100 par value preferred stock the company issued at the beginning of Year 1 . All remaining shares are common stock. The company was not able to pay dividends in Year 1, but plans to pay dividends of $21,000 in Year 2 . Required: 1. \& 2. How much of the $21,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in Year 2 , assuming the preferred stock is cumulative? What if the preferted stock were noncumulative