Exercise 15-21 The outstanding capital stock of Flounder Corporation consists of 2,000 shares of $100 par value, 9% preferred, and 5,400 shares of $50 par value common. Assuming that the company has retained earnings of $89,000, all of which is to be paid out in dividends, and that preferred dividends were not paid during the preceding the current year, state how much each class of stock should receive under each of the following conditions. years (a) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.) Preferred Common (b) The preferred stock cumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.) Preferred Common (c) The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round ans wers to 0 decimal places, e.g. $38,487.) Preferred Common $ Open Show Work Click if you would like to Show Work for this