Nottebart Corporation has outstanding 10,800 shares of $110 par value, 6% preferred stock and 61,300 shares of $19 par value common stock. The preferred stock was issued in January 2014, and no dividends were declared in 2014 or 2015. In 2016, Nottebart declares a cash dividend of $302,000.

(a) Assume that the preferred are noncumulative.

How much dividend will the preferred stockholders receive?

Preferred stockholders would receive                   $

How much dividend will the common stockholders receive?

Common stockholders would receive                     $

(b) Assume that the preferred are cumulative.

How much dividend will the preferred stockholders receive?

Preferred stockholders would receive                   $

How much dividend will the common stockholders receive?

Common stockholders would receive                     $