Common stock, par $12 per share, 44,000 shares outstanding Preferred stock, 8 percent, par $18 per share, 6,710 shares outstanding. Retained earnings, $228,000 On January 1, 2019, the board of directors was considering the distribution of a $62,800 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