Arc Company had the following shares outstanding and retained earnings at December 31, 2015: Common Shares (500,000 outstanding) $.80 Preferred shares (21,000 outstanding Retained Earnings $ 500,000 210,000 900,000 The board of directors is considering the distribution of a cash dividend to the common and preferred shareholders. No dividends were declared during 2013 and 2014. Three independent cases are assumed: Case A: The preferred shares are non-cumulative and the total amount of dividends paid is $25,000 Case B: The preferred shares are cumulative, total amount of dividends is $ 25,000. Case C: Preferred shares are cumulative, total amount of dividends is $75,000 REQUIRED: Calculate the total amount of dividends for preferred and common as well as the per share amount of dividends. PREFERRED Earnings Case Total COMMON Total Earnings Per Share