How much will the common stockholders receive

Question

Walla Company has common and preferred stock outstanding as follows:       

Common stock:100,000 shares, $30 par value

8 percent preferred stock:10,000 shares, $100 par value

      

Dividends on preferred stock have not been paid for the last three years.

    

If the company pays a total of $120,000 in dividends, how much will the common stockholders receive per share if the preferred stock is not cumulative?

Dividend per share

$

How much will the common stockholders receive per share if the preferred stock is cumulative?