CP11-4 (Algo) Calculating Common and Preferred Cash Dividends [LO 11-2, LO 11-3, LO 11-4) Tower Corporation had the following stock outstanding and Retained Earnings at December 31, 2021 Common Stock (par 15 issued and outstanding, 35,000 shares) $ 280,000 Preferred Stock, 7% (par $10; Issued and outstanding, 6,500 shares) 65,000 Retained Earnings 285,000 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 no cumulative; the total amount of 2021 dividends would be $11,100 Case The preferred stock is cumulative; the total amount of 2021 dividends would be $13,650. Dividends were not in arrears prior Case C: Same as Care, except the total dividends are $71,000. Required: 1-o. 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 pald, 1-b. Compute per case, the 2021 dividends per share payable to each class of stockholders. to 2019 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. Complete this question by entering your answers in the tabs below. Reg 1 Reg 10 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 0s 0 Total S OS CRIA Reg 10 > 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 Reg 1B Compute per case, the 2021 dividends per share, payable to each class of stockholders. (Round your answers to 2 decimal places) Case A Case B Case C Preferred (por Share) Common (por Share) 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 Reg 1B Compute per case, the 2021 dividends per share, payable to each class of stockholders. (Round your answers to 2 decimal places) Case A Case B Case C Preferred (por Share) Common (por Share)