Sheridan Company's ledger shows the following balances on December $31,2025.$

$6\%$ Preferred stock $-$$$10$ par value, outstanding $21,500$ shares $$215,000$

Common stock $-$$$100$ par value, outstanding $29,100$ shares h $2,910,000$

Retained earnings

$647,000$

Assuming that the directors decide to declare total dividends in the amount of $$398,000,$ determine how much each class of stock

should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock.

a$.$ The preferred stock is cumulative and fully participating. $($Round the rate of participation to $6$ decimal places, e$.$g$\mathrm{.}0\mathrm{.}014278.$ Round

answers to $0$ decimal places, e$.$g$.38,487.)$

Preferred

Common

$

$

b$.$ The preferred stock is noncumulative and nonparticipating. $($Round answers to $0$ decimal places, e$.$g$.38,487.)$