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Common stock (par $1; outstanding, 500,000 shares) Preferred stock, 8% (par $10; outstanding, 21,000 shares) Retained earnings $ 500,000 210,000 900,000 On December 31, 2015,

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Common stock (par $1; outstanding, 500,000 shares) Preferred stock, 8% (par $10; outstanding, 21,000 shares) Retained earnings $ 500,000 210,000 900,000 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 $30.000 Case B: The preferred stock is cumulative; the total amount of 2015 dividends would be $30,000. Dividends were not in arrears prior to 2013 Case C: Same as Case B, except the amount is $75,000 Required: 1-a. Compute the amount of dividends in total payable to each class of stockholders if dividends were declared as described in each case. Case A Case B Case C Preferred Common Total 1-b. Compute the amount of dividends per share payable to each class of stockholders if dividends were declared as described in each case. (Round your answers to 2 decimal places.) Case A Case B Case C Preferred AsoFGHk BNM

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