Monty Companys ledger shows the following balances on December 31, 2020.

7% Preferred Stock$10 par value, outstanding 21,800 shares		$ 218,000
Common Stock$100 par value, outstanding 32,300 shares		3,230,000
Retained Earnings		572,000

Assuming that the directors decide to declare total dividends in the amount of $346,000, 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 is noncumulative and nonparticipating.

(c) The preferred stock is noncumulative and is participating in distributions in excess of a 10% dividend rate on the common stock.