Problem 14-9A ArtnMotion Inc. specializes in truck tires and had the following shareholders' equity on January 1, 2014: Preferred shares, $2.50, convertible to common on a 2-for-1 basis, 100,000 shares authorized, 50,000 shares issued and outstanding $1,500,000 Common shares, unlimited number of shares authorized, 150,000 shares issued and outstanding Total contributed capital 1,500,000 3,000,000 1,200,000 Retained earnings Total shareholders' equity The following information is available for the year ending December 31, 2014: Feb. 1 Declared a cash dividend of $275,000, payable on March 1 to the shareholders on February 15. Indicate the amount payable to each class of of record shareholder Mar. 1 Paid the cash dividend declared on February 1. May 2 Declared a 20-percent stock dividend on the common shares, distributable on July 4 to the shareholders of record on June 15. The market value of the shares was $11.00 per share. Chapter 14 Corporations: Retained Earnings an