The shareholders equity of Kramer Industries includes the data shown below. During 2017, cash dividends of $220 million were declared. Dividends were not declared in 2015 or 2016.

Common stock	$	260
Paid-in capitalexcess of par, common		1,040
Preferred stock, 10%, nonparticipating		130
Paid-in capitalexcess of par, preferred		390

Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock.

Assumption A The preferred stock is noncumulative.

Assumption B The preferred stock is cumulative.