In each of the following independent cases, it is assumed that the corporation has $800,000 of 5% preferred stock and $3,200,000 of common stock outstanding, each having a par value of $10.No dividends have been declared for 2016 and 2017.

(a)As of 12/31/18, it is desired to distribute $350,000 in dividends. How much will the preferred stockholders receive if their stock is noncumulative and nonparticipating? For 2016, 2017 ,2018

(b)As of 12/31/18, it is desired to distribute $500,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating ? 2016, 2017, 2018