The following elements of stockholders' equity are adapted from the balance sheet of Gulf Resources \& Chemical Corporation. All dollar amounts, except the dividends per share, are given in thousands.

Assume that the Series A preferred has preference over the Series B preferred and that the company has paid all preferred dividends through 19X4.
\section*{Required}
Compute the dividends to both series of preferred and to common for 19X5 and 19X6 if total dividends are \(\$ 0\) in 19X5 and \(\$ 1,100,000\) in 19X6. Round to the nearest dollar.

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Stockholders' Equity Preferred stock, cumulative and nonparticipating, $1 par (Note 7) Series A, 58,000 shares issued.......... Series B, 376,000 shares issued......... Common stock, $0.10 par, 9,130,000 shares issued.. Note 7. Preferred Stock: Designated Annual Cash Dividend per Share Series A................. $0.20 Series B................. 1.30 $ 58 376 913