Martinez company's ledger show the following balances on December 31, 2010.

5% Preferred stock - $10 par value, outstanding 20,000 shares $200,000

Common stock - $100 par value, outstanding 30,000 shares $3,000,000

Retained earnings 630,000

Instructions:

Assumin that the directors decide to declare total dividends in the amount of $266,000, determine how much each class of stock should receive under 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 participating.

b) The preferred stock is noncumulative and non participating,

c) The preferred stock is noncumulative and is participating.

d) The Preferred stock is cumulative and nonparticipating