Fusion Corporation has3,000shares of8%, $100par value preferred stock outstanding at December 31, 2014. At December 31, 2014, the company declared a $105,000cash dividend.

Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios.

1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years.

The dividend paid to preferred stockholders	$
The dividend paid to common stockholders	$

2. The preferred stock is noncumulative, and the company did not pay a dividend in each of the two previous years.

The dividend paid to preferred stockholders	$
The dividend paid to common stockholders	$

3. The preferred stock is cumulative, and the company did not pay a dividend in each of the two previous years.

The dividend paid to preferred stockholders	$
The dividend paid to common stockholders	$