PREFERRED DIVIDENDS. Magic Conglomerates had the following preferred stock outstanding at the end of a recent year:

REQUIRED:
1. Determine the amount of annual dividends on each issue of preferred stock and the total annual dividend on all four issues.
2. What would be the amount of dividends in arrears if the dividends were omitted for 1 year?

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$25 par, 10% $40 par, 8% cumulative 6,000 shares 11,000 shares $50 par, 12%, cumulative, convertible $80 par, 11%, nonparticipating 2,000 shares: 15,000 shares