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In 20x3, Snowboard Ltd. had the following share capital outstanding: Preferred sharesJ no-par value; $2.88 dividend: authorized, unlimited shares; issued, 188,899 shares $ 888,899 Common

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In 20x3, Snowboard Ltd. had the following share capital outstanding: Preferred sharesJ no-par value; $2.88 dividend: authorized, unlimited shares; issued, 188,899 shares $ 888,899 Common shares, no-par value; authorized, unlimited shares; issued, 899,998 shares 1,848,899 No dividends were declared in 20x1 or 20x2, but $1,580,000 of dividends were declared in 20x3. Required: Calculate the amount of dividends that would be paid in 20x3 to each share class under the following separate cases: Case A Preferred shares are cumulative and nonparticipating. 20x3 allocation: Arra ars Current Remainder Total Case B Preferred shares are cumulative and participating with common shares after the common shares receive a $1 per share dividend. Participation is based on relative annual total base dividends. 20x3 allocation: Arrears Current Matching Remainder Total

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