In each of the following independent cases, it is assumed that the corporation has $790,000 of 5% preferred stock and $3,160,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2019 and 2020. As of 12/31/21, it is desired to distribute $250,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating? Preferred stockholders receive $ As of 12/31/21, it is desired to distribute $790,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and participating up to 12% in total? Preferred stockholders receive On 12/31/21, the preferred stockholders received a $260,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during 2021? Money distributed Click if you would like to Show Work for this question: Open Show Work