Accounting: What the Numbers Mean 11th Edition by Wayne McManus,Daniel Viele,David Marshall

Exercise 1

Preferred stock-calculate dividend amounts Calculate the annual cash dividends required to be paid for each of the following preferred stock issues:
Required:
a. $4.75 cumulative preferred, no par value; 400,000 shares authorized, 325,000 shares issued. (The treasury stock caption of the stockholders' equity section of the balance sheet indicates that 40,600 shares of this preferred stock issue are owned by the company.)b. 5%, $50 par value preferred, 200,000 shares authorized, 172,000 shares issued, and 68,500 shares outstanding.
c. 7.4% cumulative preferred, $100 stated value, $104 liquidating value; 80,000 shares authorized, 63,200 shares issued, 57,600 shares outstanding.