Kirk Corporation has 22,500 shares outstanding of $7 par value, 9% preferred stock, and 45,000 shares outstanding of $7 par-value common stock. In its first 5 years of operation, the company paid the following dividends: 2011, $0; 2012, $14,175; 2013, $42,525; 2014, $0; 2015, $75,000. Calculate the dividends paid to preferred and common stockholders under the following three independent situations:
a. Preferred stock is noncumulative and nonparticipating.
b. Preferred stock is cumulative and nonparticipating.
c. Preferred stock is cumulative and fully participating.