SpaceY Corporation has 5,000 preferred shares outstanding (no par value, $2 dividend) which were issued for $150,000; and 30,000 shares of no par value common, which were issued for $550,000. The following schedule shows the amount of dividends paid out over the last four years. Allocate the dividends to each type of share under assumptions (a) and (b). Express your answers in per share amounts and using the format that is shown. [4 Marks]

(a)

Preferred, Noncumulative, and Nonparticipating

(b) Preferred, Cumulative, and Fully Participating

Year 2017 2018 2019 2020

Paid-out $10,000 $35,000 $25,000 $115,000

Preferred

Assumption Common Preferred

Common