CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Question 5 Larkspur Company's ledger shows the following balances on December 31, 2017 8% Preferred Stock-$10 par value, outstanding 19,300 shares $ 193,000 Common Stock-$100 par value, outstanding 30,800 shares 3,080,000 Retained Earnings 576,000 Assuming that the directors decide to declare total dividends in the amount of $331,000, determine how much each class of stock should receive under each of the conditions stated below. One year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully participating (Round the rate of participation to decimal places, eg. 1.42784. Round answers to decimal places, $8.487.) Preferred Common (b) The preferred stock is noncumulative and nonparticipating (Round answers to decimal places 1.487.) Preferred Common (c) The preferred places, e.g. 1.42784 is noncumulative and is participating in distributions in excess of a 10% dividend rate on the common stock. (Round the rate of participation to de Round answers to decimal places, g. 38.487.) * el 10% dividend rate 51