Tower Corp. had the following stock outstanding and Retained Earnings at December 31, 2012:

Tower Corp. had the following stock outstanding and Retained Earnings at December 31, 2012: 264,000 Common Stock (par $8, outstanding, 33,000 shares) Preferred Stock, 8% (par $10; outstanding, 6,300 shares) 63,000 283,000 Retained Earnings On December 31, 2012, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2010 or 2011. Three independent cases are assumed Case A: The preferred stock is noncumulative; the total amount of 2012 dividends would be $12,900. Case B: The preferred stock is cumulative; the total amount of 2012 dividends would be $15,120. Dividends were not in arrears prior to 2010. Case C: Same as Case B, except the total dividends are $69,000. Required: 1-a. Compute the amount of 2012 dividends, in total that would be payable to each class of stockholders for each case. TIP: Preferred stockholders with cumulative dividends are to be paid dividends for any prior years (in arrears) and for the current year, before common stockholders are paid Case A Case B Case C Preferred Common Total