$3$

Exercise $10-5($Algo$)$ Determine the amount of dividends on preferred stock $($LO$10-3)$

Adam's Athletic Apparel has $1,300$ shares of $5\%,$$$100$ par value preferred

$1\mathrm{.}11$

stock the company issued at the beginning of $2023.$ All remaining shares are points common stock. The company was not able to pay dividends in $2023,$ but plans to pay dividends of $$14,000$ in $2024.$

Print

Required:

& $2.$ How much of the $$14,000$ dividend will be paid to preferred stockholders and how much will be paid to common stockholders in $2024.$ assuming the preferred stock is cumulative? What if the preferred stock were noncumulative?

$\backslash$table$[[,$Cumulative,$\backslash$table$[[$Non$],[$Cumulative$]],],[$Preferred dividends in arrears for $2023,$$$,6,500,],[$Preferred dividends for $2024,,,],[$Remaining dividends to common stockholders,,,$],[$Total dividends,$$,6,500,$$