Current Attempt in Progress

Sheffield Corp. has $2,500$ shares of $7\%,$ $$100$ par value preferred stock outstanding at December $31,2022,$ At December $31,2022,$ the

company declared a $$145,000$ cash dividend.

Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios.

The preferred stock is noncumulative, and the company has not missed any dividends in previous years.

The dividend paid to preferred stockholders

The dividend paid to common stockholders

The preferred stock is noncumulative, and the company did not pay a dividend in each of the two previous years,

The dividend paid to preferred stockholders