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E11-10 Computing Dividends on Preferred Stock and Analyzing Differences (LO 11-3, LO 11-4) The records of Hoffman Company reflected the following balances in the stockholders' equity accounts at December 31, 2018: Common stock, par $12 per share, 49,000 shares outstanding. Preferred stock, 8 percent, par $17.5 per share, 7,710 shares outstanding. Retained earnings, $238,000. cos On January 1, 2019, the board of directors was considering the distribution of a $63,800 cash dividend. No dividends were paid during 2017 and 2018 Required: 1. Determine the total and per-share amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions: a. The preferred stock is noncumulative. b. The preferred stock is cumulative. 2. Why were the dividends per share of common stock less for the cumulative preferred stock than the noncumulative preferred 3. What factors would cause a more favorable dividend for the common stockholders? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Reg 2 Req 3 Determine the total and per-share amounts that would be paid to the common assuming the preferred stock is noncumulative. (Round "Per Share" to 2 decima amount.) Total Per Share Paid to the Preferred Stockholders Paid to the Common Stockholders Rec Req 1B > stock? 3. What factors would cause a more favorable dividend for the comm Complete this question by entering your answers in the tabs bel Req 1A Reg 14 Reg 2 Reg 3 Determine the total and per-share amounts that would be paid to the com assuming the preferred stock is cumulative. (Do not round intermediate in and rest to the nearest dollar amount.) Total Per Share Paid to the Preferred Stockholders Paid to the Common Stockholders tv 15 G Search or type URL % 5. 8 7 6 3. What factors would cause a more favorable dividend for the common stockho Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Reg 2 Req3 What factors would cause a more favorable divided for the common stockholders? DU The preferred dividends were not in arrears. The preferred dividends were not cumulative. The total dividend distribution was increased The preferred dividends were in arrears. The preferred dividends were cumulative. The total dividend distribution was decreased.