Sarasota Limited's ledger shows the following balances on December 31, 2023: Preferred shares outstanding: 21,000 shares $504,000 Common shares outstanding: 44,000 shares 3,080,000 Retained earnings 803,040 Assuming that the directors decide to declare total dividends in the amount of $401,520, determine how much each class of shares should receive if the preferred shares are cumulative and fully participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.20 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to O decimal places, e.g. 5,275.) (b) Dividends Preferred 78,120 Common Total 323,400 401.520 Your answer is correct. Assuming that the directors decide to declare total dividends in the amount of $401,520, determine how much each class of shares should receive if the preferred shares are non-cumulative and non-participating. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.20 per share. (Round answers to O decimal places, e.g. 5,275.) Preferred Dividends $ Common Total 25200 $ 376320 $ 401520 Assuming that the directors decide to declare total dividends in the amount of $401,520, determine how much each class of shares should receive if the preferred shares are non-cumulative and are participating in distributions in excess of a 8% dividend rate on the common shares. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.20 per share. (Round intermediate percentage calculations to 4 decimal places, eg. 12.2525% and final answers to O decimal places, e.g. 5,275.) Preferred Dividends Common Total