The outstanding share capital of Bridgeport Corporation consists of $3,245$ preferred shares and $5,900$ common shares for which $$265,500$ was received. The preferred shares carry a dividend of $$6$ per share and have a $$100$ stated value.

$($a$)$

Assuming that the company has retained earnings of $$87,300$ that is to be entirely paid out in dividends and that preferred dividends were not paid during the $2$ years preceding the current year, state how much each class of shares should receive if the preferred shares are non$-$cumulative and non$-$participating.

Dividends

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Preferred Common