Testbank Exercise 141 In each of the following independent cases, it is assumed that the corporation has $770,000 of 6% preferred stock and $3,080,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for 2019 and 2020.

As of 12/31/21, it is desired to distribute $250,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating? Preferred stockholders receive $

As of 12/31/21, it is desired to distribute $770,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and participating up to 10% in total? Preferred stockholders receive

On 12/31/21, the preferred stockholders received a $250,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during 2021? Money distributed