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E11-10 (Algo) Computing Dividends on Preferred Stock and Analyzing Differences [LO 11-3, LO 11-4) a The records of Hines Industries reflected the following balances in the stockholders' equity accounts at December 31, 20213 Common stock, par $12 per share, 40,500 shares outstanding, Preferred stock, 8 percent, par $11.00 per share, 6,010 shares outstanding. Retained earnings, $221,000. On January 1, 2022, the board of directors was considering the distribution of a $62,100 cash dividend. No dividends were paid during 2020 and 2021 Required: 1. Determine the total and per-share amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions: a. The preferred stock is noncumulative, b. The preferred stock is cumulative. 2. Why might the dividends per share of common stock be different for noncumulative preferred stock and cumulative preferred stock? Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 nald in the common corners and in the referre care Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Reg 2 Determine the total and per-share amounts that would be pald to the common stockholders and to the preferred stockholder assuming the preferred stock is cumulative. (Do not round intermediate instructions. Round "Per Share" to 2 decimal places and rest to the nearest dollar amount.) $ Paid to the Preferred Stockholders Paid to the Common Stockholders Total Per Share 15,866 $ 2.64 46,234 $ 1.14 $