Tower Corporation had the following stock outstanding and Retained Earnings at December 31, 2021 Common Stock (par 58; issued and outstanding, 29,000 shares) $ 232,000 Preferred Stock, 7% (par $10; issued and outstanding. 5.900 shares) 59,000 Retained Earnings 279,000 On December 31, 2021, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2019 or 2020, and none have been declared yet in 2021 Three independent cases are assumed Case A: The preferred stock is noncumulative; the total amount of 2021 dividends would be $12,500 Cue B: The preferred stock is cumulative; the total anount of 2021 dividends would be $12,396. Dividends were not in arrears prior to 2019, Case Ct Same as Case , except the total dividends are $65,000 Required: 1-0. Compute the amount of 2021 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-b. Compute per case, the 2021 dividends per share, payable to each class of stockholders. Complete this question by entering your answers in the tabs below. Reg 1A Red 18 Compute the amount of 2021 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. Case A Case B Case C Preferred Common Total Tower Corporation had the following stock outstanding and Retained Earnings at December 31, 2021 Common Stock (par 58 issued and outstanding, 29,000 shares) $ 232,000 Preferred Stock, 7% (par $10; issued and outstanding, 5,900 Shares) 59,000 Retained Earnings 279,000 On December 31, 2021, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2019 or 2020, and none have been declared yet in 2021 Three Independent cases ate assumed Case A: The preferred stock is noncumulative; the total amount of 2021 dividends would be $12,500. Case B: The preferred stock is cumulative; the total amount of 2021 dividends would be $12,390. Dividends were not in arrears prion Case Same as Case 8, except the total dividends are $65,000 Required: 1-a. Compute the amount of 2021 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-b. Compute per case, the 2021 dividends per share, payable to each class of stockholders to 2019 Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Compute per case, the 2021 dividends per share, payable to each class of stockholders. (Round your answers to 2 decimal places) Case A Case Case C Preferred (per share Common (per share) Reg 1A
