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Chicago Company reported the following information at the end of the current year: Common stock ($5 par value; 48,000 shares outstanding) Preferred stock, 10% (
Chicago Company reported the following information at the end of the current year: Common stock ($5 par value; 48,000 shares outstanding) Preferred stock, 10% ( $10 par value, 10,000 shares outstanding) Retained earnings $240,000 100,000 291,000 The board of directors is considering the distribution of a cash dividend to the two groups of stockholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred stock is noncumulative; the total amount of dividends is $41,000 Case B: The preferred stock is cumulative; the total amount of dividends is S30,000 Case C: The preferred stock is cumulative; the total amount of all dividends is $92,000 Required 1. Compute the amount of dividends, in total and per share, that would be payable to each class of stockholders for each case. (Round "Dividends per Share" to 2 decimal places.) Dividends Dividends per Share Preferred Common Preferred Common Case A Case B Case C
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