[jayjohnson250]

Hilton Company’s stockholders’ equity includes 75,000 shares of $5 par value, 8% cumulative preferred
stock and 200,000 shares of $1 par value common stock. Both classes of stock have been outstanding
since the company’s inception. Hilton did not declare any dividends in the prior year, but it
now declares and pays a $108,000 cash dividend in the current year. Determine the amount distributed
to each class of stockholders for this two-year-old company.

[jayjohnson250]

Ok just read the site rules on homework assistance.
This is where I'm lost. I've gotten the first half of the question but unable to move furture in figuring the culmative prefrred stock.