Martinez company's ledger shows the following balances on December 31, 2012. preferred stock (5%; $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 Assuming 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 of the conditions stated below. one years dividends are in arrears on the preferred stock. (a). the preferred stock is cumulative and fully participating. (b). the preferred stock in noncumulative and nonparticipating. (c). the preferred stock in noncumulative and is participating in distributions in excess of a 7% dividend rate on the common stock