The Southeast Corporation has outstanding 40,000 shares of 12 percent, $50 par-value, noncumulative, nonparticipating preferred stock and 160,000 shares of $10 par-value common stock. The board of directors voted to distribute $210,000 as dividends in 2012, $280,000 in 2013, and $520,000 in 2014. Calculate the following for 2013 How much dividends would be allocated to preferred shareholders? How much dividends would be allocated to common shareholders? Calculate the following for 2013 as if preferred stock was cumulative How much dividends would be allocated to preferred shareholders? How much dividends would be allocated to common shareholders?