The outstanding share capital of Blue Spruce Corporation consists of 3,190 preferred shares and 5,800 common shares for which $261,000 was received. The preferred shares carry a dividend of $7 per share and have a $100 stated value. Your answer is correct. Assuming that the company has retained earnings of $101,640 that is to be entirely 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 shares should receive if the preferred shares are non-cumulative and non-participating. Assuming that the company has retained earnings of $101,640 that is to be entirely 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 shares should receive if the preferred shares are cumulative and non-participating. Assuming that the company has retained earnings of $101,640 that is to be entirely 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 shares should receive if the preferred shares are cumulative and participating. (Round answers to 0 decimal places, e.g. 5,275.) Assume that in the preceding questions (a), (b), and (c) above that Blue Spruce's current-year net income was $96,000. Calculate the current-year payout ratio under each of the conditions below. (Round answers to 2 decimal places, e.g. 52.75.)