Calgate Company had the following shares outstanding and retained earnings at the end of the current year: Preferred shares, 4% (par value $30; outstanding, 10,600 shares) Common shares (outstanding, 36,000 shares) Retained earnings $ 318,000 630,000 311,000 The board of directors is considering the distribution of a cash dividend to both groups of shareholders. No dividends were declared during the previous two years. Three independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of dividends is $52,200. Case B: The preferred shares are cumulative; the total amount of dividends is $66,000. Case C: Same as case B, except the amount is $99,000. Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of shareholders for each case. (Round "Per share" to 2 decimal places.) Case A: Total Per share Case B: Total Per share Case C: Total Per share Answer is complete and correct. Common Shares Item Preferred Shares $ $ $ $ Assets Liabilities Shareholders' equity 12,720 1.20 39,480 1.10 38,160 $ 27,840 3.60 $ 0.77 2. Assume that the company in Case C issued a 10 percent common stock dividend on the outstanding common shares. The market value per share was $22. on the date of declaration. Complete the following comparative schedule for common shares only, including explanation of the differences. (Enter any decreases to account balances with a minus sign.) 38,160 $ 60,840 3.60 1.69 Answer is complete but not entirely correct. Amount of Dollar Increase (Decrease) Cash Dividend Case C Stock Dividend (60,840) $ $ (60,840) 0 0