Norton, Inc. has 10,000 shares of 5%, $100 par value, noncumulative preference shares and 100,000 ordinary shares with a $1 par value outstanding at December 31, 2013, and December 31, 2014. The board of directors declared and paid a $40,000 dividend in 2013. In 2014, $110,000 of dividends are declared and paid. What are the dividends received by the preference and ordinary shareholders in 2014?

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The Answer of Norton, Inc. has 10,000 shares of 5%, $100 par value, noncumulative preference shares and 100,000 ordinary shares with a $1 par value outstanding at December 31, 2013, and December 31, 2014. The board of directors declared and paid a $40,000 dividend in 2013. In 2014, $110,000 of dividends are declared and paid. What are the dividends received by the preference and ordinary shareholders in 2014?