Tapin Inc. has 2,500 shares of its $1.75 preferred shares outstanding. Dividends for 2018 and 2019 are in arrears. Assume that Tapin Inc. declares total dividends of $35,000 at the end of 2020. Show how to allocate the dividends to preferred and common shareholders 

(a) If preferred shares are cumulative, 

(b) If preferred shares are noncumulative.