Problem 18-9 Effect of preferred stock characteristics on dividends [L018 The shareholders' equity of Kramer Industries includes the data shown below During 2019, cash dividends of $150 milion were declared. Dividends were not declared in 2017 or 2018. ($ in millions) $280 800 100 278 Common stock Paid-in capital-excess of par, common Preferred stock, 10%, nonparticipating Paid-in capital-excess of par, preferred Required: Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two as 10).) assumptions regarding the characteristics of the preferred stock. (Enter your answers in millions (i.e. 10,000,000 should be enterecd Assumption A-The preferred stock is noncumulative. Assumption B-The preferred stock is cumulative (S in millions) Preferred Common Assumption B