River Forest Inc. has 5000 shares of 6% $100 par value noncumulative preferred stock and 50000 shares of $1 par value common stock outstanding at December 31 2017. If the board of directors declares a $100000 dividend the

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Since the preferred stock is noncumulative, it means that any unpaid dividends do not accumulate or carry over to the following periods. Therefore, the preferred stockholders are entitled to receive their entire dividend first before the common stockholders can receive any.

The total dividend payable to preferred stockholders is calculated as follows:
Preferred dividend = 6% x $100 par value x 5000 shares = $30,000

After paying the preferred dividend, there is still $70,000 remaining to be distributed to common stockholders. Thus, the preferred stockholders will receive $30,000 and the common stockholders will receive $70,000.