Lea Corp. declared dividends in 2024. Share capital consists of 1,100 common shares and 3,700,...

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Accounting

Lea Corp. declared dividends in 2024. Share capital consists of 1,100 common shares and 3,700, $2 preferred shares. Dividends have not been paid on the preferred shares since 2021.
Instructions:
Determine the dividends to be paid on the preferred shares assuming:
a) the preferred shares are cumulative.
b) the preferred shares are noncumulative.
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