Dividends for Preferred and Common Stock The Stockholders' Equity category of Greenbaum Company's balance sheet as of December 31, 2017, appeared as follows: Preferred stock, $100 par, 9% 3,000 shares issued and outstanding $300,000 Common stock, $10 par 60,000 shares issued and outstanding 600,000 Additional paid in capital 750,000 Total contributed capital 51,650,000 Retained earnings 1,350,000 Total stockholders' equity $3,000,000 The notes to the financial statements indicate that dividends were not declared or paid for 2015 or 2016. Greenbaum wants to declare a dividend of $246,000 for 2017 Required: Determine the total and the per share amounts that should be declared to the preferred and common stockholders under the following assumption 1. The preferred stock is noncumulative, nonparticipating 2. The preferred stock is cumulative, nonparticipating Round per share amounts to the nearest cent Total Preferred Dividends Per Share Amount 1. 27,000 9 Total Common Dividends Per Share Amount 27 X B1,000 x 2. 219,000 X 3.65 X 138,000 X 2.75 Feedback Check My Work