Pina Colada Corporation issued $119,000$ shares of $$20$ par value, cumulative, $7\%$ preferred stock on January $1,2021,$ for $$2,610,000.$ In December $2023,$ Pina Colada declared its first dividend of $$780,000.$ titles and enter $0$ for the amounts.$)$

$\backslash$table$[[$Account Titles and Explanation,Debit,Credit$],[$Cash$,,],[$Preferred Stock,,$],[$Paid$-$in Capital in Excess of Par$-$Common Stock,,$]]$

eTextbook and Media

List of Accounts

If the preferred stock is not cumulative, how much of the $$780,000$ would be paid to common stockholders?

Common Stock Dividends $

eTextbook and Media

List of Accounts

If the preferred stock is cumulative, how much of the $$780,000$ would be paid to common stockholders?

Common Stock Dividends

$