Dividend Distribution Bower Corporation has the following shares outstanding: 16,500 shares of $50 par value, 16.0%...

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Dividend Distribution Bower Corporation has the following shares outstanding: 16,500 shares of $50 par value, 16.0% preferred stock 50,000 shares of $5 par value common stock During its first three years in business, the firm declared no dividends in the first year, $840,000 of dividends in the second year, and $180,000 of dividends in the third year. a. If the preferred stock is cumulative, determine the total amount of dividends paid to each class of stock in each of the three years. b. If the preferred stock is noncumulative, determine the total amount of dividends paid to each class of stock in each of the three years. a. Cumulative b. Noncumulative Check Year 1 Preferred Common $ 0 $ 0$ 0 Year 2 Preferred 264,000 132,000 Common Year 3 Preferred Common $ 0x $ 708,000 132,000 132,000 48,000 48,000 Dividend Distribution Bower Corporation has the following shares outstanding: 16,500 shares of $50 par value, 16.0% preferred stock 50,000 shares of $5 par value common stock During its first three years in business, the firm declared no dividends in the first year, $840,000 of dividends in the second year, and $180,000 of dividends in the third year. a. If the preferred stock is cumulative, determine the total amount of dividends paid to each class of stock in each of the three years. b. If the preferred stock is noncumulative, determine the total amount of dividends paid to each class of stock in each of the three years. a. Cumulative b. Noncumulative Check Year 1 Preferred Common $ 0 $ 0$ 0 Year 2 Preferred 264,000 132,000 Common Year 3 Preferred Common $ 0x $ 708,000 132,000 132,000 48,000 48,000