CALGATE COMPANY
Dividends payable in 2020
	(1)	(2)	(3)
	Dividends	Number of shares	Dividends per share
	(Col. 1 / Col. 2)
Case A (non-cumulative preferred)
Total dividends		$ -0-
Less Preferred Dividends:
Current year		-0-	-0-	$ -0.00-
Common dividends		$ -0-	-0-	$ -0.00-
Case B (Cumulative preferred)
Total dividends		$ -0-
Less Preferred Dividends:
2018 Arrears	$ -0-
2019 Arrears	-0-
Current year	-0-
Total preferred dividends		-0-	-0-	$ -0.00-
Common dividends		$ -0-	-0-	$ -0.00-
Case C (Cumulative preferred)
Total dividends		$ -0-
Less Preferred Dividends:
2018 Arrears	$ -0-
2019 Arrears	-0-
Current year	-0-
Total preferred dividends		-0-	-0-	$ -0.00-
Common dividends		$ -0-	-0-	$ -0.00-

The board of directors is considering the distribution of a cash dividend to the two groups of shareholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of dividends is $51,000. Case B: The preferred shares are cumulative; the total amount of dividends is $60,000. Case C: Same as case B, except the amount is $96,000. Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of shareholders for each case. Show computations. 2. Assume that the company issued a 10 percent common stock dividend on the outstanding common shares when the market value per share was \$24. Complete the following comparative schedule for common shares only, including explanation of the differences