Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2014.
Preferred shares, $4.48 non-cumulative,
45,000 shares authorized and issued* ......................................................... $2,880,000
Common shares,
80,000 shares authorized and issued* ......................................................... 1,280,000

During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule.

Required
Part A
Complete the following schedule by filling in the shaded areas.
1. Calculate the total dividends paid in each year to the preferred and to the common shareholders.

2. Calculate the dividends paid per share to both the preferred and the common shares in 2014.

Part B
Repeat the requirements in Part A assuming the preferred shares are cumulative.
Analysis Component: Which shares would have a greater market value: cumulative or non-cumulative?Explain.

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Total Preferred Dividend Common Dividend Year 2012 2013 2014 Total for three years Dividend 160,000 400,000 560,000 $1,120,000