Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2015: Common Stock (par $1: outstanding, 550,000 shares) Preferred Stock, 9% (par $10; outstanding, 19,600 shares) Retained Earnings 5 550,000 198,000 972.000 On December 31, 2015, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were deolared during 2013 or 2014. Three independent cases are assumed: Case A The preferred stock is noncumulative, the tota amount of 2015 dividends would be $30.000 Case B: The preferred stock is cumu ative: the total amount of 2015 dividends would be $30.000 Case C Same as Case B, except the amount is $73.000 Required Dividends were not in arrears prior to 2013