Lopez, Inc. has 2,500 shares of 4%, $50 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2013, and December 31, 2014. The board of directors declared and paid a $3,000 dividend in 2013. In 2014, $15,000 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 Lopez, Inc. has 2,500 shares of 4%, $50 par value, cumulative preference shares and 50,000 ordinary shares with a $1 par value outstanding at December 31, 2013, and December 31, 2014. The board of directors declared and paid a $3,000 dividend in 2013. In 2014, $15,000 of dividends are declared and paid. What are the dividends received by the preference and ordinary shareholders in 2014?