4 XYZ has 300,000 shares of $100 par, 3% cumulative preferred stock and 3,000,000 shares of $1 par common stock There are 400.000 shares of treasury stock (common) Earnings before interest and tax is $6,200,000 Interest expense was $600,000 and the tax rate is 20% The company did not pay a dividend last year and wishes to pay a total of $2,000,000 in dividends How much will each share of preferred and common receive? Retained earnings at the beginning of the year are $90,000,000 What will be the final amount in retained earnings at the end of the year? What are the earnings per common share