E$15\mathrm{.}6($LO $2)($Preferred Dividends$)$ Excel Video DAIS McNamara Limited's

ledger shows the following balances on December $31,2023$:

Preferred shares outstanding: $25,000$ shares $$625,000$

Common shares outstanding: $40,000$ shares $3,000,000$

Retained earnings $890,000$

Instructions

Assuming that the directors decide to declare total dividends in the amount of $$445,000,$

determine how much each class of shares should receive under each of the conditions that

follow. Note that one year's dividends are in arrears on the preferred shares, which pay a

dividend of $$1\mathrm{.}50$ per share.

a$.$ The preferred shares are cumulative and fully participating. Round the intermediate

percentage calculation to four decimal places and the final amount to the nearest

dollar.

b$.$ The preferred shares are non$-$cumulative and non$-$participating. Round to the nearest

dollar.

c$.$ The preferred shares are non$-$cumulative and are participating in distributions in

excess of a $10\%$ dividend rate on the common shares. Round the intermediate

percentage calculation to four decimal places and the final amount to the nearest

dollar.

d$.$ Using your answers to parts $($a$),($b$),$ and $($c$),$ create visualizations in Excel that show

the dividends for the common shares and preferred shares in each scenario.