Exercise 140

The stockholders' equity section of Sunland Corporation shows the following on December 31, 2018:

Preferred stock4%, $100 par, 5,300 shares outstanding

$530,000

Common stock$10 par, 60,000 shares outstanding

600,000

Paid-in capital in excess of par

190,000

Retained earnings

145,500

Total stockholders' equity

$1,465,500

Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred and common stockholders should receive if the preferred stock is cumulative and fully participating.

Preferred stockholders

$

Common stockholders

$