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The records of Scorpio.com reflected the following balances in the stockholders' equity accounts at December 31, 2021: Common stock, par $12 per share, 41,500 shares

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The records of Scorpio.com reflected the following balances in the stockholders' equity accounts at December 31, 2021: Common stock, par $12 per share, 41,500 shares outstanding. Preferred stock, 8 percent, par $13.00 per share, 6,210 shares outstanding. Retained earnings, $223,000. On January 1, 2022, the board of directors was considering the distribution of a $62,300 cash dividend. No dividends were paid during 2020 and 2021. 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: a. The preferred stock is noncumulative. b. The preferred stock is cumulative. 2. Why might the dividends per share of common stock be different for noncumulative preferred stock and cumulative preferred stock? Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 2 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.) Show less A Total Per Share Paid to the Preferred Stockholders Paid to the Common Stockholders On December 31, the stockholders' equity section of the balance sheet of L & G Corporation reflected the following: Common stock (par $10; 61,000 shares authorized; $ 26,000 issued and outstanding) Additional paid-in capital Retained earnings 260,000 13,000 80,000 On February 1 of the following year, a 12 percent stock dividend was issued. The market value of the stock on February 1 was $18 per share. Required: 1. For comparative purposes, prepare the stockholders' equity section of the balance sheet (a) immediately before the stock dividend and (b) immediately after the stock dividend. 2. If the stock dividend were 100%, would the additional paid-in capital account be affected? Complete this question by entering your answers in the tabs below. Required Required 1 2 For comparative purposes, prepare the stockholders' equity section of the balance sheet (a) immediately before the stock dividend and (b) immediately after the stock dividend. Stockholders' Equity Before After Stock Stock Stock Dividend Dividend Dividend Contributed Capital: Total Contributed Capital 0 0 Total Stockholders' Equity Required 2 > 0

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