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1. Chapin Co. has 3,000 of $100 par value 5% preferred stock and 20,000 of $10 par value common stock outstanding. No dividends were declared during 2012 and 2013. In 2014 and 2015, Chapin declared and paid dividends of $8,000 and $25,000 respectively. For 2016, the company declared dividends of $150,000 Instructions How much will the preferred and common stockholders receive under each of the following assumptions: (a) The preferred is noncumulative 2012 2013 2014 2015 2016 Declared Preferred Dividends Paid Preferred Dividends in arrears Common Dividends Paid Calculate Dividends per share (a) The preferred is cumulative 2012 2013 2014 2015 2016 Declared Preferred Dividends Paid Preferred Dividends in arrears Common Dividends Paid Calculate Dividends per share for each year P/F 2. Chapin had Net income of $500,000 in 2016 and had weighted average of 20,000 common shares outstanding in 2016. Calculate Earnings Per Share for 2016 EPS weighted Avg Outstanding C/S EPS for 2016