Carlos Company had the following shares outstanding and Retained Earnings at December 31, 2014: On December 31,

Question:

Carlos Company had the following shares outstanding and Retained Earnings at December 31, 2014:

Common shares (490,000 outstanding shares) Preferred shares (8%; 19,000 outstonding shares) Retained earnings $490,000 1

On December 31, 2014, the board of directors is considering the distribution of a cash dividend to the common and preferred shareholders. No dividends were declared during 2012 or 2013. Three independent cases are assumed:
Case A: The preferred shares are noncumulative; the total amount of 2014 dividends would be $24,000.
Case B: The preferred shares are cumulative; the total amount of 2014 dividends would be $24,000. Dividends were not in arrears prior to 2012.
Case C: Same as Case B, except the amount is $67,000.
Required
Compute the amount of 2014 dividends, in total and per share, payable to each class of shareholders for each case. Show computations. Round per share amounts to two decimal places.

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