Common stock, par $12 per share, 40,500 shares outstanding. Preferred stock, 8 percent, par $11 per share, 6,010 shares outstanding. Retained earnings, $221,000. On January 1, 2019, the board of directors was considering the distribution of a $62,100 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 stock? 3. What factors would cause a more favorable dividend for the common stockholders? Complete this question by entering your answers in the tabs below. Reg 1A Red 18 Reg 2 Reg 3