Xavier Limited paid out cash dividends at the end of each year as noted below. There were three years

arrears as of January $1,2020.$

Year

$2020$

$2021$

$2022$

Dividends

$$735,000$

$$540,000$

$$400,000$

c$)$ Assume that Xavier Limited had $200,000$ common shares outstanding and $30,000,$ $$6,$ non$-$

cumulative preferred shares outstanding. How much cash would be paid out in $2020,2021$ and

$2022$ for each class of shares?

d$)$ Now assume that the above noted preferred shares are cumulative. How much cash would be

paid out in $2020,2021$ and $2022$ for each class of shares?