Question 7 Not yet answered Marked out of 12.00 P Flag question Analyzing and Distributing Cash Dividends to Preferred and Common Stocks Skinner Company began business on June 30, 2015. At that time, it issued 22,000 shares of $40 par value, 6% cumulative preferred stock and 80,000 shares of $10 par value common stock. Through the end of 2017, there has been no change in the number of preferred and common shares outstanding. a. Assume that Skinner declared and paid cash dividends of $58,000 in 2015, $0 in 2016, and $326,000 in 2017. Compute the total cash dividends and the dividends per share paid to each class of stock in 2015, 2016, and 2017. Dividend Distribution Preferred Common Preferred common per share per share 2015 $ 2016 2017 b. Assume that Skinner declared and paid cash dividends of $0 in 2015, $105,600 in 2016, and $174,000 in 2017. Compute the total cash dividends and the dividends per share paid to each class of stock in 2015, 2016, and 2017. Dividend Distribution Preferred Common per share Common per share Preferred 2015 $ 2016 2017