The records of Hoffman Company reflected the following balances in the shareholders' equity accounts at December 31, 2017: Common shares, no par value, 47,500 shares outstanding Preferred shares, S3, no par value, 7,600 shares outstanding Retained earnings $950,000 158,000 251,000 On September 1, 2018, the board of directors was considering the distribution of a $79,800 cash dividend. No dividends were paid during 2013 and 2017. You have been asked to determine dividend amounts under two independent assumptions (show computations): a. The preferred shares are non-cumulative. b. The preferred shares are cumulative. Required: 1. Determine the total amounts that would be paid to the preferred shareholders and to the common shareholders under the two independent assumptions. (Round "Per share" to 2 decimal places.) Preferred Common a. Noncumulative: Total Per share b. Cumulative: Total Per share