2 Calculating Dividends (10 marks) Mask Manufacturing Company has following share capital: 8% Preferred shares, $140 par value, cumulative, 30,000 shares authorized, 29,000 issued and 28,000 shares outstanding. Common shares, $20 par value, 39,000 shares authorized, 15,000 shares issued and 12,000 outstanding Required: (a) Assume that the company wants to pay a total dividend of $600,000 and there are two years of preferred dividends in arrears, how much would each class of shareholders receive in total? And per share? (6 marks) (b) If a company does not pay a dividend, is this a sign that it is not performing well? Analyze fully. (4 marks)