In each of the following independent cases, it is assumed that the corporation has $800,000 of 6% preferred stock and $3,200,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2013 and 2014.(a) As of 12/31/15, it is desired to distribute $250,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating?(b) As of 12/31/15, it is desired to distribute $800,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and participating up to 11% in total?(c) On 12/31/15, the preferred stockholders received a $240,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during 2015?

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The Answer of In each of the following independent cases, it is assumed that the corporation has $800,000 of 6% preferred stock and $3,200,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2013 and 2014.(a) As of 12/31/15, it is desired to distribute $250,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating?(b) As of 12/31/15, it is desired to distribute $800,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and participating up to 11% in total?(c) On 12/31/15, the preferred stockholders received a $240,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during 2015?

In Each of the Following Independent Cases, It Is Assumed