PB11-4 (Algo) Comparing Stock and Cash Dividends [LO 11-2, LO 11-3, LO 11-4] Carlos Company had the following stock outstanding and Retained Earnings at December 31, 2021: Common Stock (par $1; issued and outstanding, 510,000 shares) Preferred Stock, 8% (par $10; issued and outstanding, 19,200 shares) Retained Earnings $ 510,000 192,000 968,000 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 amount of 2021 dividends would be $26,000. Case B: The preferred stock is cumulative; the total amount of 2021 dividends would be $26,000. Dividends were not in arrears prior to 2019. Case C: Same as Case B, except the amount is $69,000. Required: 1-a. Compute the amount of 2021 dividends, in total, that would be payable to each class of stockholders if dividends were declared as described in each case. 1-b. Compute the amount of 2021 dividends per share payable to each class of stockholders for each case. 13