The stockholders equity section of Joshua Company shows the following on December $31,2023$:

Preferred stock, $5\%,$ $$50$ par value, $5,000$ shares outstanding $$250,000$

Common stock, $$5$ par value, $80,000$ shares outstanding $400,000$

Paid$-$in capital in excess of par, common stock $200,000$

Retained earnings $210,000$

Total stockholders equity $$1,060,000$

Required:

Assume that the corporation has determined to pay out $$90,000$ in dividends at December $31,2023.$ The last time that dividends were paid was on December $31,2021.$ Calculate the amount of dividends that would be paid to preferred shareholders and the amount that would be paid to common shareholders under the following independent situations:

a$.$ The preferred stock is noncumulative and nonparticipating.

b$.$ The preferred stock is cumulative and nonparticipating.

c$.$ The preferred stock is cumulative and fully participating.