Business, 19.10.2021 14:10 ash9951

The preferred stock has 557,740 shares authorized, with a par value of $100 and an annual $3.75 per share cumulative dividend preference. On Jan 1, 557,649 shares of preferred are issued and 546,024 shares are outstanding. There were also 1.8 billion shares of $1 par value common stock authorized, of which 924.6 million are issued and 844.8 million are outstanding. There was also $1M outstanding dividend liability on preferred stock. Required:
During the year, if $5M of dividend were declared by the board, the amount distributed to preferred stockholders is $

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The preferred stock has 557,740 shares authorized, with a par value of $100 and an annual $3.75 per...

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