Need help with problem 8

Togo Inc . has the following shares outstanding :"40, 000, 50. 80 , no par value preferred shares$400, 00050, 000 no par Value common shares$600, 000All shares were sold for $100 each .No dividends have been declared since December 31 , 2011 . It is now December 31 , 2014 , andthe board of directors wants to distribute $204 , 000 in dividends .InstructionsCalculate how much the preferred and common shareholders will receive under each of thefollowing assumptions :a .The preferred is non - cumulative and non - participating .12 .The preferred is cumulative and non - participating .C .The preferred is cumulative and fully participating .d . The preferred is cumulative and participating to 12%/6 total .