Massive Corp. is authorized to issue unlimited $0.60 nopar preterred shares and unlimited nopar common shares. lhere are 20,000 preferred and 60.000 common shares outstanding. In a fiveyear period, annual dividends paid were $1,000, $5,000, $81,000, $5,000. and $162,000, 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 nonparticipating. 6 Answer is complete but not entirely correct. 1 Partial $ 10,000 9 $ 1,000 9 2 Partial $ 5,000 0 $ 5,000 0 3 Arrears $ 18,000 0 Current 12,000 a 51,000 0 Total $81,000 as 30,000 $ 51,000 4 Partial $ 5,000 o $ 5,000 0 5 Arrears $ 7,000 0 Current 12,000 a 143,000 0 Total $262000 11 19,000 $ 143,000 Case D Preferred shares are noncumulative and partially participating up to an additional $0.60 per share. Participation is based on relative annual total base dividends. (Round allocation percentages values to nearest whole percent.) 9 Answer is complete but not entirely correct. 1 Current 0 1,000 o $ 1,000 o 2 Current 8; 50000 $ 5,000 o 3 Current 35 12,000 0 Matching 60,000 0 Balance 1,530 0 7,470 0 Total $81,000 51; 13,530 $ 67,470 4 Current :5 5,000 o $ 5,000 o 5 Current as 12,000 0 Matching 60,000 0 Balance 15,3009 74,7009 Total $52000 $ 27,300 $ 134,700