The outstanding capital stock of Marigold Corporation consists of1,900shares of $100par value,7% preferred, and4,500shares of $50par value common.

Assuming that the company has retained earnings of $87,000, 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.

(c)The preferred stock is cumulative and participating.