Ryan Corporation began business on March 1, 2016. At that time, it issued 20,000 shares of \(\$ 60\) par value, seven percent cumulative preferred stock and 100,000 shares of \(\$ 5\) 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 Ryan declared dividends of \(\$ 0\) in \(2016, \$ 195,000\) in 2017 , and \(\$ 200,000\) 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 Ryan declared dividends of \(\$ 0\) in \(2016, \$ 90,000\) in 2017 , and \(\$ 190,000\) in 2018. Calculate the total dividends and the dividends per share paid to each class of stock in 2016, 2017 , and 2018 .