Martinez Company's ledger exhibits the given balances on December 31, 2012.
5% Preferred stock-$10 par value, outstanding 22,480 shares $224,800
Common stock-$100 par value, outstanding 33,720 shares 3,372,000
Retained earnings 708,120
Supposing that the directors decide to declare total dividends in the amount of $298,984, find out how much each class of stock should receive beneath each of the conditions stated below. One year's dividends are in arrears on the favored stock.