The records of Hoffman Company reflected the following balances in the stockholders' equity accounts at December 31, 2018 Common stock, par $12 per share, 48,500 shares outstanding Preferred stock, 8 percent, par $16.5 per share, 7,610 shares outstanding Retained earnings, $237,000 points On January 1, 2019, the board of directors was considering the distribution of a $63,700 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 02:41:50 | under two independent assumptions Print a. The preferred stock is noncumulative b. The preferred stock is cumulativee References 2. Why were the dividends per share of common stock less for the cumulative preferred stock than the noncumulative preferred stock? 3. What factors would cause a more favorable dividend for the common stockholders? Complete this question by entering your answers in the tabs below. Req 1A Req 2 Req 1B Req 3 Determine the total and per-share amounts that would be paid to the common stockholders and to the preferred stockholders assuming the preferred stock is noncumulative. (Round "Per Share" to 2 decimal places and rest to the nearest dollar amount.) Total Per Share Paid to the Preferred Stockholders Paid to the Common Stockholders Complete this question by entering your answers in the tabs below. Req 3 Req 2 Req 1B Req 1A Determine the total and per-share amounts that would be paid to the common stockholders and to the preferred stockholders assuming the preferred stock is cumulative. (Do not round intermediate instructions. Round "Per Share" to 2 decimal places and rest to the nearest dollar amount.) Per Share Total Paid to the Preferred Stockholders Paid to the Common Stockholders