2. Dividends on preferred stock. In each of the following independent cases, it is assumed that the c 5% preferred stock and $3,200,000 of common stock outstanding, each having a par value of S10. No dividends have been declared for 2016 and 2017. orporation has $800,000 of (a) As of 12/31/18, 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 12/31/18, 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 9% in total? (c) On 12/31/18, the preferred stockholders received a $200,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during 2018