Part 2: Zalmstra Company's ledger shows the following balances on December 31, 20X2 Preferred Stock (5%; $10 par value, outstanding 20,000 shares) $200,000 Common Stock ($100 par value, outstanding 30,000 shares) $3,000,000 S630,000 Retained Earnings Required: 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 condition stated below. One year's 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 up to an additional 2% dividend rate