Sheridan Corporation has outstanding 9,600 shares of $100 par value, 6% preferred stock and 57,400 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, Sheridan declares a cash dividend of $306,000. (a) Assume that the preferred are noncumulative. How much dividend will the preferred stockholders receive?

Preferred stockholders would receive

$enter a dollar amount How much dividend will the common stockholders receive?

Common stockholders would receive

$enter a dollar amount

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

Preferred stockholders would receive

$enter a dollar amount

How much dividend will the common stockholders receive?

Common stockholders would receive

$enter a dollar amount

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