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The records of Hoffman Company reflected the following balances in the stockholders' equity accounts at December 31, 2018 Common stock, par $12 per share, 46,500 shares outstanding. Preferred stock, 5 percent, par $12.5 per share, 7,218 shares outstanding. Retained earnings, $233,000. On January 1, 2019, the board of directors was considering the distribution of a $63,300 cash dividend. No dividends were paid during 2017 and 2018 Required: 1. Determine the total and per-share amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions a. The preferred stock is noncumulative b. The preferred stock is cumulative. 2. why were the dividends per share of common stock less for the cumulative preferred stock than the noncumulative preferred stock? 3. What factors would cause a more favorable dividend for the common stockholders? Complete this question by entering your answers in the tabs below. RAGIA Reg 18 Reg 2 Reg 3 On January 1, 2019, the board of directors was considering the distribution of a $63,300 paid during 2017 and 2018. Required: 1. Determine the total and per-share amounts that would be paid to the common stockh stockholders under two independent assumptions: a. The preferred stock is noncumulative. b. The preferred stock is cumulative. 2. Why were the dividends per share of common stock less for the cumulative preferred preferred stock? 3. What factors would cause a more favorable dividend for the common stockholders? nts Complete this question by entering your answers in the tabs below. eBook Req 1A Reg 1B Reg 2 Req3 Print Determine the total and per-share amounts that would be paid to the common stockholders and assuming the preferred stock is noncumulative. (Round "Per Share" to 2 decimal places and rest amount.) Total Per Share REM Paid to the Preferred Stockholders Paid to the Common Stockholders Req 1A Req 1B Reg 2 Reg 3 Why were the dividends per share of common stock less for the cumulative preferred stock than the noncumulati stock? The dividends in arrears on the preferred stock had to be fulfilled before dividends could be paid for the current year. The dividend rate for preferred stockholders was increased. Req 1A Req 1B Reg 2 Req 3 What factors would cause a more favorable dividend for the common The preferred dividends were not in arrears. The preferred dividends were not cumulative. The total dividend distribution was increased. The preferred dividends were in arrears. The preferred dividends were cumulative. The total dividend distribution was decreased.