The records of Hollywood Company reflected the following balances in the stockholders' equity accounts at the end of the current year: Common stock, $12 par value, 32,000 shares outstanding Preferred stock, 8 percent, $10 par value, 6,000 shares outstanding Retained earings, $233,000 On September 1 of the current year, the board of directors was considering the distribution of an $84,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions (show computations)