The records of Hoffman Company reflected the following balances in the stockholders equity accounts at December 31, 2018:

Common stock, par $12 per share, 43,000 shares outstanding.

Preferred stock, 8 percent, par $16 per share, 6,510 shares outstanding.

Retained earnings, $226,000.

On January 1, 2019, the board of directors was considering the distribution of a $62,600 cash dividend. No dividends were paid during 2017 and 2018.

Required:

1. Determine the total and per-share amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions:

1. The preferred stock is noncumulative.
2. The preferred stock is cumulative

a.

b.

Total Per Share Paid to the Preferred Stockholders Paid to the Common Stockholders Total Per Share Paid to the Preferred Stockholders Paid to the Common Stockholders