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How will the dividend be shared by common and preferred

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1. Nottebart Corporation has outstanding 10,000 shares of $100 par value, 6% preferred stock and 60,000 shares of $10 par value common stock. The preferred stock was issued in January 2010, and no dividends were declared in 2010 or 2011. In 2012, Nottebart declares a cash dividend of $300,000. How will the dividend be shared by common and preferred stockholders if the preferred is? 

(a) Non-cumulative and 

(b) Cumulative? 

Reference no: EM131106574

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