I am having a hard time calculating participating dividend percentage. Can you please help me with the formula for the participating dividend percentage so I can calculate the preferred stockholder and Common stockholder?

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

Preferred stock5%, $100 par,5,500shares outstanding $550,000

Common stock$10 par,61,000shares outstanding 610,000

Paid-in capital in excess of par 200,000

Retained earnings 108,700

Total stockholders' equity$1,468,700

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 _____?