The outstanding capital stock of Robbins Corporation consisted of

3,000 shares of 10 percent preferred stock, USD 250 par value, and 30,000 shares of

no-par common stock with a stated value of USD 250. The preferred was issued at

USD 412, the common at USD 480 per share. On 2005 January 1, the retained

earnings of the company were USD 250,000. During the succeeding five years, net

income was as follows:

2005 $765500

2006 51000

2007 48,000

2008 150,000

2009 660,500

No dividends were in arrears as of 2005 January 1, and during the five years

2005-2009, the board of directors declared dividends in each year equal to net

income of the year.

Prepare a schedule showing the dividends declared each year on each class of

stock assuming the preferred stock is:

a. Cumulative.

b. Noncumulative.