$4)$ Hobson company has outstanding $40,000$ shares of $$50$ par value, $6\%$ cumulative preferred stock and $100,000$ shares of $$10$ par value common stock. The company declares and pays cash dividends amounting to $$280,000.$

a$)$ If there are no preferred dividends in arrears, how much in total dividends, and in dividends per share, does Hobson pay to each class of stock?

b$)$ If there are one year$$s dividends in arrears on the preferred stock, how much in total dividends, and in dividends per share, does Hobson pay to each class of stock?

$5)$ If a company repurchases its stock, Treasury Stock, what impact does that have on EPS?

$6)$ If instead of issuing a cash dividend a company instead issues a stock dividend, what is the impact to the shareholders? Do they need to report anything that year on their tax return for the dividend and why might a shareholder like getting a stock dividend instead of cash?