please explain al the steps in details

ACCT 301B Section: Ch15 In-class Exercises Name: Exercise 6. In each of the following independent cases, it is assumed that the corporation has $770,000 of6% preferred stock and $3,080,000 of common stock outstanding, each having a par value of $10. No dividends have been declared for Year 6 and Year 7. (a) As of 12/31/Year 8, it is desired to distribute $239,995 in dividends. How much will the preferred stockholders receive if their stock is cumulative and nonparticipating? (b) As of 12/31/Year 8, it is desired to distribute $770,000 in dividends. How much will the preferred stockholders receive if their stock is cumulative and participating up to 10% in total? (c) On 12/3 1/Year 8, the preferred stockholders received a $250,000 dividend on their stock which is cumulative and fully participating. How much money was distributed in total for dividends during Year 8? a) 770000 x 606x 3