The records of Keating Corporation reflected the following balances in the stockholders equity accounts at December 31, 2021:

Common stock, par $12 per share, 41,000 shares outstanding. Preferred stock, 8 percent, par $12.00 per share, 6,110 shares outstanding. Retained earnings, $222,000.

On January 1, 2022, the board of directors was considering the distribution of a $62,200 cash dividend. No dividends were paid during 2020 and 2021.

Required:

Determine the amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions:

The preferred stock is noncumulative.

The preferred stock is cumulative.

Req A

Determine the amounts that would be paid to the common stockholders and to the preferred stockholders assuming the preferred stock is cumulative. (Do not round intermediate instructions. Round "Per Share" to 2 decimal places and rest to the nearest dollar amount.)

	Total
Paid to the Preferred Stockholders
Paid to the Common Stockholders

Req B

Determine the amounts that would be paid to the common stockholders and to the preferred stockholders assuming the preferred stock is cumulative. (Do not round intermediate instructions. Round "Per Share" to 2 decimal places and rest to the nearest dollar amount.)

	Total
Paid to the Preferred Stockholders
Paid to the Common Stockholders