Prepare the distribution to the stockholders under two situations. First the preferred stock is cumulative, second it is non-cumulative. 3. A company has 15,000 shares of $100 par 7% cumulative preferred stock and 20,000 shares of $1 par common stock and pays out the following: Year Total 2016 135,000 2017 75,000 2018 150,000 2019 120,000 Prepare the distribution to the stockholders under two situations. First the preferred stock is cumulative, second it is non-cumulative