On $31$ December $20$X$5,$ Watercress Properties Ltd$.$ reported the following in shareholders$$ equity:

Preferred shares, no$-$par value; $$1\mathrm{.}00$ dividend, authorized, unlimited shares; issued, $75,000$ shares

$$1,875,000$

Common shares, no$-$par value; authorized, unlimited shares; issued, $300,000$ shares

$3,900,000$

Retained earnings

$6,100,000$

Dividends of $$405,000$ are declared in $20$X$6.$ Consider the following three cases:

Preferred Cumulative?

Year of Last Dividends

Preferred Participating?

CASE A

No

$20$X$2$

No

CASE B

Yes

$20$X$3$

No

CASE C

Yes

$20$X$5$

Yes, after common receive $$0\mathrm{.}50$ per share; participation based on relative dividends at base level

Required:

Calculate dividends to be paid to preferred and common shares in each case.

Preferred Dividend

Common Dividend

Total

CASE A

CASE B

CASE C