Sinclair Company has outstanding 56,000 shares of $50 par value, 6% cumulative preferred stock and 140,000 shares of $10 par value common stock. The company declares and pays cash dividends amounting to $392,000. a. If there are no preferred dividends in arrears, how much in total dividends, and in dividends per share, does Sinclair pay to each class of stock?

	Total Dividends	Dividends per Share
Preferred shareholders:	Answer	Answer
Common shareholders:	Answer	Answer

b. If there are one years dividends in arrears on the preferred stock, how much in total dividends, and in dividends per share, does Sinclair pay to each class of stock?

	Total Dividends	Dividends per Share
Preferred shareholders:	Answer	Answer
Common shareholders:	Answer	Answer