Tower Corp. had the following stock outstanding and Retained Earnings at December 31, 2018 Common Stock (par 58, outstanding, 24,000 shares) Preferred stock. 9% (par $10 outstanding, 5,400 shares) Retained Earnings $ 192,00 54,000 274,000 On December 31, 2018, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders No dividends were declared during 2016 of 2017 and none have been declared yet in 2018. Three independent cases are assumed Case A: Case : The preferred stock is noncumulative; the total amount of 2018 dividends would be $12,000. The preferred stock is cumulatives the total amount of 2018 dividends would be $14,50. Dividends were out in arrears prior to 2016. Sane a Case Bxcept the total dividends are $60,000 Case : Required: 1-a. Compute the amount of 2018 dividends in total that would be payable to each class of stockholders if dividends were declared as described in 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 1-5. Compute per case, the 2018 dividends per share payable to each class of stockholders. Complete this question by entering your answers in the tabs below. Reg 1A Reg 10 Compute the amount of 2018 dividends, in total that would be payable to each class of stockholders if dividends were declared as described in each case. Tie: Preferred stockholders with cumulative dividends are to be paid dividends for any prior Years On arrears) and for the current year before common stockholders are paid, Case A Case B Case Preferred Common Total $ OS OSI Reg 10 > Tower Corp. had the following stock outstanding and Retained Earnings at December 31, 2018: Common Stock (par 58: outstanding, 24,000 shares) Preferred Stock, 9% (par $10 outstanding, 5,400 shares) Retained Earnings $ 192,000 54,000 274,000 On December 31, 2018, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2016 or 2017, and none have been declared yet in 2018. Three independent cases are assumed: Case A: Case B The preferred stock is noncumulative; the total amount of 2018 dividends would be $12.00 The preferred stock it cumulatives the total amount of 2018 dividends would be $14,580 Dividends were not in arrears prior to 2016. Same as Case B, except the total dividends are $60, eee. Case C Required: 1-a. Compute the amount of 2018 dividends, in total that would be payable to each class of stockholders if dividends were declared as described in 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. 1-5. Compute per case, the 2018 dividends per share payable to each class of stockholders. Complete this question by entering your answers in the tabs below. Reg LA Reg 1B Compute per case, the 2018 dividends per share, payable to each class of stockholders. Round your answers to 2 decimal places Case A Case B Case C Preferred per share Common per share
