Exercise 15-21 The outstanding capital stock of Monty Corporation consists of 2,000 shares of $100 par value, 8% preferred, and 5100 shares of SSO par value common. Assuming that the company has retained earnings of $86,000, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions. (a) The preferred stock is noncumulative and nonparticipating. (Round answers to O decimal places, e.g. $38,487.) Preferred Common s 16000 70000 (b) The preferred stock is cumulative and nonparticipating. (Round answers to o decimal places,e.g. $38,487.) Preferred Common 8000 s38000 (c) The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to O decimal places, e.g. $38,487.) Preferred Common Click if you would like to Show Work for this question Question Attempts: o of 2 used SAVE FOR LATER SUSMIT