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Tower Corp. has the following stock outstanding and Retained Earnings e December 31, 2015: Common Stock (or $9, outstanding, 29.000 shares Preferred Stock, 7% (par
Tower Corp. has the following stock outstanding and Retained Earnings e December 31, 2015: Common Stock (or $9, outstanding, 29.000 shares Preferred Stock, 7% (par $10; outstanding. 5,900 shares Retained Earnings $232.000 59,000 279.000 On December 31, 2015, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2013 or 2014, and none have been declared yet in 2015. Three Independent cases are assumed: Case A The preferred stock is non cumulative; the total amount of 2015 dividends would "be $12.500 Case 3: The preferred stock is cumulative; the total amount of 2015 dividends would be $12,390. Dividends were not in arrears prior to 2013. Case Same Cose 5. except the total dividends are $65,000. Required: 1-2. Compute the amount of 2015 didends, in total that would be payable to each class af stockholders dividends were declared as described in esch case. TIP: Preferred stockholders with cumulative alvidends are to be paid dividends for any prior years on arrears) and for the current year before common stockholders are pald Cace A Cace 3 Cace o Preferred Common 1-6. Compute per case, the 2015 dividends per share, psyable to each class of stockholders (Round your answers to 2 decimal places.) Cace A Cace B Cace Proforma per share Common (per share
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