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Massive Corp. is authorized to issue unlimited $0.60 no-par preferred shares and unlimited no-par common shares. There are 16,000 preferred and 48,000 common shares

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Massive Corp. is authorized to issue unlimited $0.60 no-par preferred shares and unlimited no-par common shares. There are 16,000 preferred and 48,000 common shares outstanding. In a five-year period, annual dividends paid were $3,000, $3,000, $85,000, $4,000, and $170,000, respectively. Required: Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00. Case A Preferred shares are cumulative and non-participating. Year Total Paid Preferred Common 1 Partial 2 Partial 3 Arrears Current Total $ 0 $ 0 $ 0 4 Partial 5 Arrears Current

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