Infomatics, Inc

Infomatics, Inc. has 90,000 shares of $4 par value common stock and 5,000 shares of 6%, $13 par value preferred stock outstanding at December 31, 2020. On January 1, 2021, the board of directors declares a $76,000 dividend. No dividends were paid in 2019 or 2020. Determine the amount of the $76,000 dividend that will be paid to the preferred stockholders and to the common stockholders in 2021 under two independent assumptions: 1. The preferred stock is noncumulative. 2. The preferred stock is cumulative. Dividend Paid to Preferred Stockholders Dividend Paid to Common Stockholders 1. Preferred stock is noncumulative 2. Preferred stock is cumulative