QS $11-12($Algo$)$ Dividend allocation between classes of shareholders LO C$2$

Stockholders' equity of Ernst Company consists of $81,000$ shares of $$5$ par value, $9\%$ cumulatlve preferred stock and $285,000$ shares

of $$1$ par value common stock. Both classes of stock have been outstanding since the company's Inceptlon. Ernst did not declare any

dividends in the prlor year, but It now declares and pays a $$130,000$ cash dividend at the current year$-$end.

Determine the amount distributed to each class of stockholders for this two$-$year$-$old company.