Exercise 15-22 Riverbed Company's ledger shows the following balances on December 31, 2020. 6% Preferred Stock-$10 par value, outstanding 21,500 shares Common Stock-$100 par value, outstanding 29,100 shares Retained Earnings $ 215,000 2,910,000 647,000 Assuming that the directors decide to declare total dividends in the amount of $398,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully 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 $ (b) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.) Preferred Common $ $ (c) The preferred stock is noncumulative and is participating in distributions in excess of a 9% dividend rate on the common stock. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 0 decimal places, e.g. $38,487.) Preferred Common $ Click if you would like to Show Work for this question: Open Show Work Problem 15-05 Before Larkspur Corporation engages in the following treasury stock transactions, its general ledger reflects, among others, the following account balances (par value of its stock is $30 per share). Paid-in Capital in Excess of Par Common Retained Common Stock Stock Earnings $89,800 $277,500 $80,400 Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (a) Bought 380 shares of treasury stock at $41 per share. (b) Bought 310 shares of treasury stock at $43 per share. (c) Sold 370 shares of treasury stock at $43 per share. (d) Sold 110 shares of treasury stock at $39 per share. No. Account Titles and Explanation Debit Credit (a) (d)