The outstanding capital stock of Cullumber Corporation consists of $2,200$ shares of $$100$ par value, $7\%$ preferred, and $4,900$ shares of

$$50$ par value common.

Assuming that the company has retained earnings of $$88,000,$ all of which is to be paid out in dividends, and that preferred dividends

were not paid during the $2$ years preceding the current year, state how much each class of stock should receive under each of the

following conditions.

$($a$)$ The preferred stock is noncumulative and nonparticipating. $($Round answers to $0$ decimal places, e$.$g$.$ $$38,487.)$

Preferred

$

$($b$)$ The preferred stock is cumulative and nonparticipating. $($Round answers to $0$ decimal places, e$.$g$.$ $$38,487.)$

Preferred

$

$($c$)$ The preferred stock is cumulative and participating. $($Round the rate of participation to $4$ decimal places, e$.$g$\mathrm{.}1\mathrm{.}4278\%.$ Round answers to

$0$ decimal places, e$.$g$.$ $$38,487.)$

Preferred

$

Common

$