On September 1 of the current year, the board of directors was considering the distribution of a $76.460 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions (show computations): a. The preferred shares are non-cumulative. b. The preferred shares are cumulative. Required: 1. Determine the total amounts that would be paid to the preferred shareholders and to the common shareholders under the two ndependent assumptions. (Round "Per share" to 2 decimal places.) The records of Hoffman Company reflected the following balances in the shareholders' equity accounts at December 31 of the current year: On September 1 of the current year, the board of directors was considering the distribution of a $76.460 cash dividend. No dividends were paid during the previous two years. You have been askod to determine dividend amounts under two independent assumptions (show computations): a. The preferred shares are non-cumulative. b. The preferred shares are cumulotive. Required: 1. Determine the total amounts that would bo paid to the preferred shareholdors and to the common shareholders under the two independent assumptions. (Rlound "Per share" to 2 decimal places.) On September t of the current year, the board of directors was considering the distribution of a 576.460 cash dividend No dividends Were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptons (show computations): a. The preferred shaces are non-cumulative. b. The preferred shares are cumulative. Required: 1. Determine the total amounts that would be paid to the prefered shareholders and to the cormon shareholders under the two independent assumptions. (Round "Per share" to 2 decimal places.)