Calgate Company had the following shares outstanding and retained earnings at the end of the current year: The board of directors is considering the distribution of a cash dividend to both 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. 2. Assume that the company in Case C issued a 10 percent common stock dividend on the outstanding common shares. The market value per share was $24 on the date of declaration. Complete the following comparative schedule for common shares only, including explanation of the differences