The outstanding share capital of Martinez Corporation consists of 2,500 shares of preferred and 7,100 common shares for which $276,900 was received. The preferred shares carry a dividend of $6 per share and have a $100 stated value. Your answer is correct. Assuming that the company has retained earnings of $80,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the 3 years preceding the current year, state how much each class of shares should receive if the preferred shares are non-cumulative and non-participating. Preferred Common Total Dividends $ 15000 $ 65000 $ e Textbook and Media Your answer is correct. Assuming that the company has retained earnings of $80,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the 3 years preceding the current year, state how much each class shares should receive if the preferred shares are cumulative and non-participating. Preferred Common Total Dividends $ 60000 $ 20000 $ e Textbook and Media Your answer is partially correct. Assuming that the company has retained earnings of $80,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the 3 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 O decimal places, e.g. 5,275.) Preferred Common Total Dividends $ 45000 $ 35000 $ Your answer is incorrect. Assume that Martinez's current year net income was $94,700. Calculate the current year payout ratio under each of the conditions below. (Round answers to 2 decimal places, e.g. 52.75.) Payout Ratio (a) The preferred shares are non-cumulative and non-participating. (b) The preferred shares are cumulative and non-participating. (c) The preferred shares are cumulative and participating