Reference no: EM132885672

Question - The stockholders' equity section of Sunland Corporation shows the following on December 31, 2018:

Common stock-$10 par, 60,000 shares outstanding 600,000

Paid-in capital in excess of par 190,000

Retained earnings 145,500

Total stockholders' equity $1,465,500

Exercise 140 Preferred stock-4%, $100 par, 5,300 shares outstanding $530,000

Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred and common stockholders should receive if the preferred stock is cumulative and fully participating.