Water Tower Company had the following shares outstanding and Retained Earnings at December 31, 2017:

Common shares (outstanding 30,000 shares)..............................$240,000
Preferred shares (7%; outstanding, 6,000 shares)............................60,000
Retained earnings...............................................................................280,000

On December 31, 2017, the board of directors considered the distribution of a cash dividend to the common and preferred shareholders. No dividends were declared during 2015 or 2016. Three independent cases are assumed:

Case A: The preferred shares are non-cumulative; the total amount of 2017 dividends would be $30,000.

Case B: The preferred shares are cumulative; the total amount of 2017 dividends would be $12,600. Dividends were not in arrears prior to 2015.

Case C: Same as Case B, except the amount is $66,000.

Required:

Compute the amount of 2017 dividends, in total and per share, that would be payable to each class of shareholders for each case. Show computations.

TIP: Preferred shareholders with cumulative dividends are paid dividends for any prior years (in arrears) and for the current year before common shareholders are paid.