Dividends

Keener Company has had 900 shares of 7%, $100 par preferred stock and 42,000 shares of $5 stated value common stock outstanding for the last 3 years. During that period, dividends paid totaled $5,300, $25,300, and $31,800 for each year, respectively.

Required:

Compute the amount of dividends that Keener must have paid to preferred shareholders and common shareholders in each of the 3 years, given the following 3 independent assumptions:

1. Preferred stock is nonparticipating and noncumulative.

	preferred	common	total
year 1	5300	0	5300
year 2	6300	19000	25300
year 3	6300	25500	31800

2. Preferred stock is nonparticipating and cumulative.

	preferred	common	total
year 1	5300	0	5300
year 2			25300
year 3	6300	25500	31800

3. Preferred stock is fully participating and cumulative.

	preferred	common	total
year 1	5300	0	5300
year 2			25300
year 3			31800

Please explain how you got your answers. thank you!