Lentz Corporation was incorporated on Jan. 2, 2015. During the first year, they issued 20,000 no par value common shares and 8,000 5% cumulative preferred shares with a stated value of $10. Answer the following unrelated questions:

a. On Dec. 31, 2015, Lent announces a dividend only for the preferred shareholders of record on Jan. 30, 2016. The payment is to be made Feb. 15, 2016. Show the calculation to determine the amount of the dividend and the entries required.

b. On December 31, 2015, Lent announces a $10,000 dividend for shareholders of record on Jan. 30, 2016. The payment is to be made Feb. 15, 2016. Show the calculation to determine the amount of the dividend each shareholder receives and the entries required.

C. On December 31, 2015, Lentz announces it will not be paying a dividend. On Dec. 31, 2016, Lent announces a $12,000 dividend for shareholders of record on Jan. 30, 2017. The payment is to be made Feb. 15, 2017. Show the calculation to determine the amount of the dividend each shareholder receives and the entries required.