Regan, Inc., declared a cash dividend of $40,000 in 2020 when the following shares were outstanding:

Common shares, 20,000 shares	$400,000
Preferred shares, 40.60, 2,500 shares	25,000

No dividends were declared or paid during the prior year. Required: Using the answer space provided below, compute the amount of cash that would be paid to each shareholder group under each of the following separate cases. Show calculations

Case A -	The preferred shares are non-cumulative Preferred $________ Common $________
Case B -	The preferred shares are cumulative Preferred $________ Common $________