Waterway, Inc., has 6300 shares of 5%, $100 par value, noncumulative preferred stock and 63000 shares of $1 par value common stock outstanding at December 31, 2020. If the board of directors declares a $100900 dividend, the O preferred stockholders will receive $31500 and the common stockholders will receive $69400. preferred stockholders will receive the entire $100900. O preferred stockholders will receive 1/10th of what the common stockholders will receive. $31500 will be held as restricted retained earnings and paid out at some future date