Chicago Company had the following stock outstanding and retained earnings at Dec

Question

Chicago Company had the following stock outstanding and retained earnings at December 31, 2014: The board of directors is considering the distribution of a cash dividend to the two groups of stockholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred stock is noncumulative; the total amount of dividends is $31,000. Case B: The preferred stock is cumulative; the total amount of dividends is $35,000. Case C: Same as Case B, except the amount is $90,000. Compute the amount of dividends, in total and per share, that would be payable to each class of stockholders for each case. (Round "Dividends per Share" to 2 decimal places.)

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