E11-7 Computing Dividends on Preferred Shares and Analyzing Differences 2 The records of Hoffman Company reflected the following balances in the shareholders equity accounts at December 31, 2013: Common shares, par $13 per share, 22.000 shares outstanding. Preferred shares, 7 percent, par $10 per share, 5100 shares outstanding. Retained earnings, $240,000 ts Book On January 1, 2014, the board of directors was considering the distribution of a $72,000 cash dividend. No dividends were paid during 2012 and 2013 erences Required: Determine the total and per share dividends amounts that would be paid to the common shareholders and to the preferred shareholders under two independent assumptions 1-a. The preferred shares are noncumulative, (Round your per share amount t decimal places) o 2 E11-7 Computing Dividends on Preferred Shares and Analyzing Differences [LO3, LO The records of Hoffman Company reflected equity accounts at December 31, 2013: 16710 points awarded Common shares, par $13 per share, 22.000 shares outstanding. Preferred shares, 7 percent, par $10 per share, 5.100 shares outstanding Retained earnings, $240.000 Scored On January 1, 2014, the board of directors was considering the distribution of a $72.000 cash dividend. No dividends were paid during 2012 andl 2013, Required Determine the total and per share dividends amounts that would be paid to the common shareholders and to the preferred shareholders under two independent assumptions 1-a. The preferred shares are noncumulative, (Round your per share amount to 2 decimal places.)