1 Company name: Quartz Inc. You are the accountant for Quartz inc, and need to determine how the cash dividends declared by Quartz's board of directors should be allocated between the corporation's common and preferred stockholders. 4 Data Quartz Inc. is authorized to issue 100,000 shares of $2.00 par value common stock and 350,000 shares of $8.00 par value, 3.\%, preferred stock. It currently has 82,000 shares of common stock and 124,000 shares of preferred stock issued and outstanding. 6 The declared dividend amount for each year is included in the work area templates. 9 Required: Start by calculating the preferred stock annual dividend, then use the templates provided below to allocate cash dividends declared, to preferred and common stockholders. Calculate the preferred stock annual dividend Assume preferred stock is NON-cumulative "This is the amount that preferred stockholders are entitled to for the year - they may or may not get it, depending on how much cash dividend the Board of Directors declares. Assume preferred stock is CUMULATIVE