Arc Company had the following shares outstanding and retained earnings at December 31, 2019 Common Shares (500,000 outstanding) $0.80 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 2017 and 2018. There are three independent situation you are to analyze: Situation A: In this situation, the preferred shares are non-cumulative and the total amount of dividends paid to all shareholders is $25,000. Situation B: The preferred shares are cumulative and the total amount of dividends paid to shareholders is $25,000. Situation C: Preferred shares are cumulative and the total amount of dividends paid to shareholders is $75,000 Instructions: Calculate the total amount of dividends paid for preferred shares and common shares as well as the per share amount of dividends. Show Computations. PREFERRED TOTAL DIV PER SHARE COMMON TOTAL DIV PER SHARE