Question 7 [42 points]

Second Time Around Clothing reported net income during five successive years as follows: 2015, $80,500; 2016, $77,500; 2017, $8,500; 2018, $8,000; 2019, $81,000. The share capital consisted of 24,500, no-par common shares, and 30,000, $0.50 no-par preferred shares. Prepare a schedule showing the amount each share class would receive in dividends if the entire net income amount was distributed each year. Please make sure your final answer(s) are accurate to 2 decimal places.

	Case A		Preferred shares are cumulative and non-participating.
	Case B		Preferred shares are cumulative and fully participating; the matching dividend for common shares is $1.50 per share.
	Case C		Preferred shares are non-cumulative and fully participating; the matching dividend for common shares is $1.50 per share.