Violet Company has paid all required preferred dividends though December 31, 2004. Its outstanding stock consists of 10,000 shares of USD 125 par value common stock and 4,000 shares of 6 percent, USD 125 par value preferred stock. During five successive years, the company’s dividend declarations were as follows:
2005 $85,000
a) cumulative -
b) noncumulative -
2006 $52,500
a) cumulative -
b) noncumulative -
2007 $7,500
a) cumulative -
b) noncumulative -
2008 $15,000
a) cumulative -
b) noncumulative -
2009 $67,500
a) cumulative -
b) noncumulative –