Analyzing Cash Dividends on Preferred and Common Stock Warren Company began business on June 30, 2015. At that time, it issued 25,000 shares of $40 par value, 8% cumulative preferred stock and 100,000 shares of $5 par value common stock. Through the end of 2017, there has been no change in the number of preferred and common shares outstanding.

a. Assume that Warren declared and paid cash dividends of $103,000 in 2015, $0 in 2016 and $461,000 in 2017. Compute the total cash dividends and the dividends per share paid to each class of stock in 2015, 2016, and 2017.

b. Assume that Warren declared and paid cash dividends of $0 in 2015, $160,000 in 2016, and $278,000 in 2017. Compute the total cash dividends and the dividends per share paid to each class of stock in 2015, 2016, and 2017.