5. Milton Corporation has 20,000 shares of $5 par-value common stock and 60,000 shares of 9%, $2 parvalue preferred stock issued and outstanding. The preferred stock is cumulative. How much are preferred dividends per year? a.b.c.g.$10,800.$120,000.$100,000.$9,000. 7. How is treasury stock shown in the financial statements? a. As an asset. b. As a reduction of paid-in capital. C. As a reduction of total stockholders' equity. d. It depends on the reason that the treasury stock was acquired. 8. Prost Products has excelled on past treasury stock transactions, selling the stock at above cost resulting in a balance of $1,250 in Paid in Capital from Treasury Stock account. Currently, the company is holding 460 shares of its $2 par-value common stock, reacquired for $2,000. If the stock is reissued for $500, what journal entry will the company's accountant make