CP11-4 (Algo) Calculating Common and Preferred Cash Dividends [LO 11-2, LO 11-3, LO 11-4) Tower Corporation had the following stock outstanding and retained Earnings at December 31, 2021 Common Stock Coar 58: Issued and outstanding, 20,000 shares) $ 160,000 Preferred Stock, 7 (par 310; issued and outstanding, 5,000 shares) 50,000 Retained Earnings 270,000 On December 31, 2021, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2019 or 2020, and none have been declared yet in 2021 Three independent cases ale assumed Case At The preferred stock is noncumulative; the total amount of 2021 dividends would be $11,600 Case B1 The preferred stock is cumulative; the total amount of 2021 dividends would be $10,500. Dividends were not in arrears prior to 2019 Case C1 Same as Case B, except the total dividends are $50,000 Required: 1-6. Compute the amount of 2021 dividends, in total that would be payable to each class of stockholders if dividends were declared as described in each case, TIP Preferred stockholders with cumulative dividends are to be paid dividends for any prior years in arrears) and for the current year before common stockholders are paid 1.5. Compute per case the 2021 dividends per share, payable to each class of stockholders Complete this question by entering your answers in the tabs below. Red 1A Reg 10 Compute the amount of 2021 dividends, in total that would be payable to each class of stockholders if dividends were declared as described in each case. TIP: Preferred stockholders with cumulative dividends are to be paid dividends for any prior years (in arrears) and for the current year before common stockholders are paid Case A Case B Case Preferred Common Total CP11-4 (Algo) Calculating Common and Preferred Cash Dividends [LO 11-2. LO 11-3, LO 11-4) Tower Corporation had the following stock outstanding and retained Earnings at December 31, 2021 Connon Stock (par $8; issued and outstanding, 20,000 Shares) $ 160,000 Preferred Stock, 7 (par $10; issued and outstanding. 5,000 50,000 Shares) Retained Earnings 270,000 On December 31 2021, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders No dividends were declared during 2019 or 2020, and none have been declared yet in 2021. Three Independent cases are assumed Case A: The preferred stock is noncumulative; the total anount of 2021 dividends would be $11,600. Case : The preferred stock is cumulative; the total amount of 2021 dividends would be $10,500. Dividends were not in arrears prior to 2019 Case : Same as cores, except the total dividends are $56,000 Required: 1-0. Compute the amount of 2021 dividends, in total that would be payable to each class of stockholders if dividends were declared as descnbed in each case. TIP Preferred stockholders with cumulative dividends are to be paid dividends for any prior years in arrears) and for the current year before common stockholders are paid 1-6. Compute per case, the 2021 dividends per share payable to each class of stockholders Complete this question by entering your answers in the tabs below. Reg 1A Reg 13 Compute per case, the 2021 dividends per share, payable to each class of stockholders. (Round your answers to 2 decimal places.) Case A Case B Case C Preferred (per share) Common per share)