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Marlin, Inc., declared a cash dividend of $1, 800,000 in 2016 when the following stocks were outstanding: Common stock, 2.000.000 shares outstanding, par $1 $2,000,000

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Marlin, Inc., declared a cash dividend of $1, 800,000 in 2016 when the following stocks were outstanding: Common stock, 2.000.000 shares outstanding, par $1 $2,000,000 Preferred stock, 10%, 100.000 shares outstanding, par $40 4.000.000 2013 is the last year that dividends were declared and paid. Compute the number of dividends that would be distributed to preferred stockholders and to common stockholders under each of the following separate cases. Show your work for possible partial credit. Case A The preferred stock is noncumulative. Preferred: $ _ Common $ _ Case B The preferred stock is cumulative. Preferred: $ _ Common $ _

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