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Wacissa Company has 20,000 shares of6%, $50 par value preferred stock and 300,000 shares of$5 par value common stock outstanding for the years 20X1 through

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Wacissa Company has 20,000 shares of6%, $50 par value preferred stock and 300,000 shares of$5 par value common stock outstanding for the years 20X1 through 20X3. During this time period, the company pays the cash dividends listed below. There were no dividends in arrears at the beginning of 20X1. WACISSA COMPANY DIVIDENDS PAID 20X1 THROUGH 20X3 20x1 20X2 20X3 30,000 80,000 300,000 REQUIRED: Determine the total dividends and the dividends per share that each class of stock should receive for each year, assuming the following (1) The preferred stock is noncumulative and fully participating. (2) The preferred stock is cumulative and nonparticipating. (3) The preferred stock is cumulative and participating up to an additional 10%

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