Brief Exercise 10-37 Common Shares versus Preferred Shares Corporations issue two general types of shares-common and preferred. Required: Answer the following regarding the major differences between common and preferred shares. Preferred stock grants certain privileges, usually involving common stock. Common stock confers to its holders that are not granted to holders of Indicate whether the following are usually advantages of preferred stockholders or common stockholders: (1) Dividend preferences: (2) Participating preferences: I (3) Conversion privileges: (4) Liquidation preferences: (5) Call provisions: