Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of \(\$ 50\) par value, six percent, cumulative preferred stock and 90,000 shares of \(\$ 10\) par value common stock. Through the end of 2018, there had been no change in the number of preferred and common shares outstanding.

Required

a. Assume that Chauncey declared dividends of \(\$ 69,000\) in 2016, \(\$ 0\) in 2017, and \(\$ 354,000\) in 2018. Calculate the total dividends and the dividends per share paid to each class of stock in 2016,2017 , and 2018.

b. Assume that Chauncey declared dividends of \(\$ 0\) in \(2016, \$ 120,000\) in 2017 , and \(\$ 186,000\) in 2018. Calculate the total dividends and the dividends per share paid to each class of stock in 2016, 2017, and 2018.