When Crossett Corporation was organized in January 2016, it immediately issued 5,000 shares of $48 par, 7 percent, cumulative preferred stock and 10,000 shares of $14 par common stock. Its earnings history is as follows: 2016, net loss of $14,600; 2017, net income of $56,100; 2018, net income of $81,000. The corporation did not pay a dividend in 2016.

How much is the dividend arrearage as of January 1, 2017?

Assume that the board of directors declares a $45,600 cash dividend at the end of 2017 (remember that the 2016 and 2017 preferred dividends are due). How will the dividend be divided between the preferred and common stockholders?

(total dividend declared, 2016 arrerage, 2017 preffered dividends, availabe for common, distributed to common, total distribution)