Analyzing Convertble Preferred Stock Xerex comp reports the followins stockholders eguty infocmaton in its 10 -kreport Preferred Stock Bs of Oecember 31,2018. we had one cuss of preferred stock outitand ing. We hive issued 100,000 shares of Series B Converbble Perpetual Preferred Stock that have an aggregate liquidation value of s1s0 and a currying value of 3214 . The Series 8 Convert ble Preferced 5 tock pws quarterly cash dividends at a cate of 8 per year. Each share of Preferred Stock is convert ble at any time. at the opbon of the holdec, into 37,4532 sharer of commans stock for a total of 6,742A thecsand shares cheflecting an initial comversion price of approxamately $26.70 per share of corminan stockl. subject to customary and-dizbbion adjuterents. Required a. At December 31, 2018, xerox reports 2214 million of 8 sw Series B Comvertile Prefecred stock. What is the doilar amount of dividends thut x erox must pay on this sock faxpume a par value of 1,000 per share? D. Deucribe the effects that wil ocrur fo Xeroxs balance sbeet and its income scatement when the Comentible Preferred stock a converted: Do the balance sheec, the prefered stock tialance b eliminged and retained earnings is increased by the same amoun: * Oot the bolance sheet, the preferied stock balance is elimingted and total contributed cagital is increased by the same amount: Do the balance shert the preferred mock balance s elimwared and weasury urock in decreased by the same amount