Concord, Ltd. has 9,000 outstanding no par value $1.00 preferred shares issued for $90,000 and 32,000 outstanding no par value common shares issued for $21,760. No dividends were paid or declared during 2017 and 2018. Concord wants to distribute $54,000 in dividends on December 31, 2019.

Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are non-cumulative and non-participating.

Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are cumulative and non-participating.

Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are cumulative and fully participating