Waterway Corporation has 3,000 shares of 7%, $125 par value preferred stock outstanding at December 31, 2020. At December 31, 2020, the company declared a $120,000 cash dividend. Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios. 1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years. The dividend paid to preferred stockholders $Entry field with incorrect answer now contains modified data The dividend paid to common stockholders $Entry field with incorrect answer now contains modified data 2. The preferred stock is noncumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preferred stockholders $Entry field with incorrect answer now contains modified data The dividend paid to common stockholders $Entry field with incorrect answer now contains modified data 3. The preferred stock is cumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preferred stockholders $Entry field with incorrect answer now contains modified data The dividend paid to common stockholders $Entry field with incorrect answer now contains modified data