Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2015:

Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2015: Common Stock (par $1; outstanding, 510,000 shares) Preferred Stock, 8% (par $10, outstanding, 19,200 shares) Retained Earnings $10,300 192,000 968,000 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 declared during 2013 or 2014. Three independent cases are assumed: Case A: The preferred stock is noncumulative; the total amount of 2015 dividends would be $26,000. Case B: The preferred stock is cumulative; the total amount of 2015 dividends would be $26,000. Dividends were not in arrears prior to 2013. Case C: Same as Case B, except the amount is $69,000