Oriole Corporation had net income for the current year ending December $31,2023$ of $$1,224,600.$ Throughout $2023$ the following

items were outstanding:

$420,000$ common shares

$19,000$ Class A $$3$ cumulative preferred shares that were convertible to common shares at a rate of $1$:$1$

$48,000$ Class B $$4$ non$-$cumulative preferred shares that were convertible at a rate of $1$ common share for every $2$ preferred

shares.

$$528,000,8\%$ bonds that were convertible to $16,000$ common shares

$$310,000,10\%$ bonds convertible to $10,000$ common shares

No dividends were declared or paid in $2023.$ Oriole's tax rate is $25\%.$

$($a$)$

Your answer is correct.

Calculate the income effect of the dividends for the Class A preferred shares.

Dividends on Class A preferred shares $

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$($b$)$

Your answer is incorrect.

Calculate the income effect of the dividends for the Class B preferred shares. $($Do not leave any answer field blank. Enter $0$ for

amounts.$)$

Dividends on Class B preferred shares