The outstanding share capital of Monty Corporation consists of 3,000 shares of preferred and 6,700 common shares for which $281,400 was received. The preferred shares carry a dividend of $7 per share and have a $100 stated value. Assuming that the company has retained earnings of $95,000 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. Preferred Dividends $ Common $ Total $ Assuming that the company has retained earnings of $95,000 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. Preferred Dividends $ Common $ Total Assuming that the company has retained earnings of $95,000 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 O decimal places, e.g. 5,275.) Preferred Dividends $ Common Total $ Assume that Monty's current year net income was $91,100. Calculate the current year payout ratio under each of the conditions below. (Round answers to 2 decimal places, eg. 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.