Sandhill Corporation has outstanding 10000 shares of $100 par value, 6% preferred stock and 55700 shares of $10 par value common stock. The preferred stock was issued in January 2020, and no dividends were declared in 2020 or 2021. In 2022, Sandhill declares a cash dividend of $303000. (a) Assume that the preferred are noncumulative. How much dividend will the preferred stockholders receive?

Preferred stockholders would receive

=

How much dividend will the common stockholders receive?

Common stockholders would receive

=

(b) Assume that the preferred are cumulative. How much dividend will the preferred stockholders receive?

Preferred stockholders would receive

=

How much dividend will the common stockholders receive?

Common stockholders would receive=