The shareholders’ equity of Wang Industries includes the data shown below. During 2025, cash dividends of $150 million were declared. Dividends were not declared in 2023 or 2024.

Required:
Determine the amount of dividends payable to preferred shareholders and to common shareholders under each of the following two assumptions regarding the characteristics of the preferred stock.
Assumption A —The preferred stock is noncumulative.
Assumption B —The preferred stock is cumulative.

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Common stock Paid-in capital-excess of par, common Preferred stock, 10%, nonparticipating Paid-in capital-excess of par, preferred ($ in millions) $200 800 100 270