John corp has outstanding share capital consists of

Preferred shares outstanding: 3,000 shares

$300.000

Common shares outstanding: 7,000 shares

$280.000

the two years preceding the current year, state how much each class of shares should receive under each of the following condition.

The preferred shares carry a dividend of $9 per share and have a $100 stated value. The company decided to pay $115.000 in dividends and that preferred dividends were not pant duce

Instructions

1. The preferred shares are cumulative and participating. Do not round intermediate calculations but round answers to the nearest dollar

2. The preferred shares are cumulative and non-participating.