1.2.

Colliers, Inc., has 150,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the amount of $2 per share, but because of cash flow problems, the company did not pay any dividends last year. The board of directors plans to pay dividends in the amount of $710,000 this year. Required: 1. What amount will go to preferred stockholders? 2. How much will be available for common stock dividends? 1. Dividend Payment to Preferred Stockholders 2. Dividend Payment to Common Stockholders $ 600,000 $ 110,000 The 2016 annual report for Mega Mills disclosed that 1 billion shares of common stock have been authorized. At the end of 2015, 745 million shares had been issued and the number of shares in treasury stock was 104 million. During 2016, the only common share transactions were that 15 million common shares were reissued from treasury and 21 million common shares were purchased and held as treasury stock. Required: Determine the number of common shares (a) issued, (b) in treasury, and (C) outstanding at the end of 2016. (Enter your answers in millions.) Number of Common Shares (in millions) (a) (b) (c) Issued Stock Treasury Stock Shares Outstanding