Kis Corp Declared $35,000 in Dividends in 2014

Essay

Kis Corp. declared $35,000 in dividends in 2014. Share capital consists of 1,100 common shares and 3,700, $2 preferred shares. Dividends have not been paid on the preferred shares since 2011.
Instructions
Determine the dividends to be paid on preferred shares assuming:
a. the preferred shares are cumulative.
b. the preferred shares are non-cumulative.