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At December 31, 2019, the records of Hoffman Company reflected the following balances in the shareholders' equity accounts: Common shares: par $12 per share;
At December 31, 2019, the records of Hoffman Company reflected the following balances in the shareholders' equity accounts: Common shares: par $12 per share; 55,000 shares outstanding Preferred shares: 9 percent; par $10 per share; 8,250 shares outstanding Retained earnings: $227,500 On January 1, 2020, the board of directors was considering the distribution of a $72,500 cash dividend. No dividends were paid during 2018 and 2019. Required: Determine the total and per-share amounts that would be paid to the common shareholders and to the preferred shareholders under two independent assumptions: 1-a. The preferred shares are non-cumulative. (Round your per share amount to 2 decimal places.) Paid to preferred shareholders Paid to common shareholders Total Per Share
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