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Check my work Massive Corp. is authorized to issue unlimited $0.70 no-par preferred shares and unlimited no-par common shares. There are 15.000 preferred and 45,000 common shares outstanding. In a five-year period, annual dividends pald were $3.000. 85.000. $90.000. 5.000. and $180.000, respectively. Required: Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00. Case A Preferred shares are cumulative and non-participating, Year 1 Partial 2 3 Partial Arrears Current Total Partial Aurears Current Total Total Paid Preferred Common $ 3,000 $3,000 5 5,000 5 5,000 $ 13,000 10.500 66,500 5 90,000 23,500 $ 66,500 $5,000 $5,000 $5.500 10,500 164,000 $ 180,000 $ 16,000 S 164 000 4 5 Case B Preferred shares are non-cumulative and non-participating Year 1 2 Total Paid Preferred Common S 3.000 53.000 $ 5,000 $ 5,000 S 90,000 $ 10,500 S 79,500 S 5,000 $5,000 S 180 000 $ 10,500 $ 169,500 3 3 4 5 Check my work Case C Preferred shares are non-cumulative and fully participating. Participation is based on the relative number of shares outstanding, Year --- Total Paid Preferred Common $ 3,000 S 5,000 5 10,500 Current Current Current Matching Balance Total Current Current $ 10.500 $ 10.500 s 0 Matching Balance Total S os os Case D Preferred shares are non-cumulative and partially parucipating up to an additional $0.70 per share. Parucipation is based on relative annual total base dividends. (Round allocation percentages values to nearest whole percent.) Year 1 1 2 3 Current Current Current Matching Balance Total Current Current Matching Balance Total Total Paid Preferred Common $ 3,000 $3,000 $5,000 5,000 $ 10,500 31.500 12,000 36.000 $ 90,000 $ 22.500 S 67 500 $ 5.000 S 5,000 $ 10,500 31.500 34,500 103.500 S 180.000 S 45,000 5 135.000 4 5