Brief Exercise 11-5 (Algorithmic) Cash Dividends At December 31, 2010, Purple Corp. has the following:

Brief Exercise 11-5 (Algorithmic)Cash DividendsAt December 31, 2010, Purple Corp. has the following:Common Stock, $10 par, 10,000 shares authorized, 9,000 issued, 8,000 outstandingPreferred Stock, $100 par, 10%, cumulative, 1,000 shares authorized, issued, and outstandingThe company did not pay any dividend during 2009 or 2008.Required:Compute the amount of dividend to be received by the common and preferred stockholders in 2010 if the company declared a dividend of (a) $20,000, (b) $30,000, and (c) $75,000. If an amount is zero, enter 0.