1.) Outstanding stock of the Sheffield Corp. included 45000 shares of $5 par common stock and 11000 shares of 5%, $10 par non-cumulative preferred stock. In 2016, Sheffield declared and paid dividends of $4500. In 2017, Sheffield declared and paid dividends of $13500. How much of the 2017 dividend was distributed to preferred shareholders

A.)

$8000.

B.)

$10000.

C.)

$5500.

D.)	None of these answer choices are correct.

2.) Windsor, Inc. has 1500 shares of 12%, $100 par value, cumulative preferred stock and 75000 shares of $1 par value common stock outstanding at December 31, 2017. What is the annual dividend on the preferred stock?

A.)	$18000 in total.

B.)	$1200 in total.

C.)	$0.12 per share.

D.)	$120 per share.