Matt Schmidt Companys ledger shows the following balances on December 31, 2014. 4% Preferred Stock$10 par value, outstanding 20,200 shares $ 202,000 Common Stock$100 par value, outstanding 30,890 shares 3,089,000 Retained Earnings 638,900 Assuming that the directors decide to declare total dividends in the amount of $372,700, 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. (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 $Entry field with incorrect answer 16160 $Entry field with incorrect answer (b) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.) Preferred Common $Entry field with correct answer 8080 $Entry field with correct answer 364620 (c) The preferred stock is noncumulative and is participating in distributions in excess of a 6% 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 $ $