Rensing, Inc., has $800,000 of 8% preferred stock and $1,200,000 of common stock outstanding, each having a par value of $10 per share. No dividends have been paid or declared during 2009 and 2010. As of December 31, 2011, it is desired to distribute $488,000 in dividends. Instructions: Determine how much the preferred and common stockholders will receive under each of the following assumptions. The preferred is noncumulative and nonparticipating. The preferred is cumulative and nonparticipating. The preferred is cumulative and fully participating. The preferred is cumulative and participating to 12% total