This problem consists of two parts. Part 1 A portion of the Stockholders' Equity section of Calley Corporation's balance sheet as of December 31, 2019, appears below. Dividends have not been paid for the years 2017 and 2018. There has been no change in the number of shares of stock issued and outstanding during these years. Assume that the board of directors of Calley Corporation declares a dividend of $20,570 after completing operations for the year 2019. Stockholders' Equity Preferred Stock (8x cumulative, $50 par value, 10,980 shares authorized) At Par Value (1,400 shares issued) Common Stock (no-par value, with stated value of $10, 50,000 shares authorized) At Stated Value (13,000 shares issued) $ 70,000 130,000 Required: 1. Compute the total amount of the dividend to be distributed to preferred stockholders. 2. Compute the amount of the dividend to be paid on each share of preferred stock. 3. Compute the total amount of the dividend available to be distributed to common stockholders. 4. Compute the amount of the dividend to be paid on each share of common stock. 5. Compute the amount of dividends in arrears of any) that preferred stockholders may expect from future declarations of dividends. Part II Use the information given in Part I to solve this part of the problem. Assume that the board of directors of Cailey Corporation has declared a dividend of $92,200 instead of $20,570 after operations for 2019 are completed. Required: 1. Compute the total amount of the dividend to be distributed to preferred stockholders, 2. Compute the amount of the dividend to be paid on each share of preferred stock. 3. Compute the total amount of the dividend available to be distributed to common stockholders. 4. Compute the amount of the dividend to be paid on each share of common stock. 5. Compute the amount of dividends in arrears (if any) that preferred stockholders may expect from future declarations of dividends. Analyze: Assume only Part 1 has transpired. If, in 2018, the board of directors declared a dividend of $52,000, what amount would be paid to preferred stockholders? Complete this question by entering your answer in the tabs below. Part 1 Part 11 Analyze A portion of the Stockholders' Equity section of Cailey Corporation's balance sheet as of December 31, 2019, appears below. Dividends have not been paid for the years 2017 and 2018. There has been no change in the number of shares of stock issued and outstanding during these years. Assume that the board of directors of Calley Corporation declares a dividend of $20,570 after completing operations for the year 2019. (Round your per share" value to 2 decimal places.) Show less 2017 dividend distributed to preferred 1. stockholders 2018 dividend distributed to preferred stockholders 2019 dividend distributed to preferred stockholders 2. Dividend paid per share of preferred stock 3. Dividend available for common stock distribution 4. Dividend paid per share of common stock 5. Dividend in arrears for preferred stockholders Part I Part II Analyze Use the information given in Part I to solve this part of the problem. Assume that the board of directors of Calley Corporation has declared a dividend of $92,200 instead of $20,570 after operations for 2019 are completed. (Round your "per share" value to 2 decimal places.) 1. 2017 dividend distributed to preferred stockholders 2018 dividend distributed to preferred stockholders 2019 dividend distributed to preferred stockholders 2. Dividend paid per share of preferred stock 3. Dividend available for common stock distribution 4. Dividend paid per share of common stock 5. Dividend in arrears for preferred stockholders Part I Part II Analyze Assume only Part 1 has transpired. If, in 2018, the board of directors declared a dividend of $52,000, what amount would be paid to preferred stockholders? Dividend paid to preferred stockholders