PA11-4 (Algo) Calculating Common and Preferred Cash Dividends [LO 11-2, LO 11-3, LO 11-4] Ritz Company had the following stock outstanding and Retained Earnings at December 31, 2021: Common stock (par $1; issued and outstanding, 55e, 090 shares) $550,000 Preferred stock, 98 (par $10; issued and outstanding, 21,500 215,000 shares) 905,000 On December 31, 2021, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2019 or 2020. Three independent cases are assumed: Case A: The preferred stock is noncumulative; the total anount of 2021 dividends would be $35,000. Case B : The preferred stock is cumulative; the total amount of 2021 dividends would be $35,090. Dividends