Bruins Inc. has the following items in their current balance sheet: Common Stock 10,000,000 shares authorized, $1,000,000 issued $3,000,000 Capital Surplus $9,000,000 Treasury Stock on Common 100,000 shares $6,000,000 Cumulative Preferred Stock 500,000 authorized [2%] $100 par $8,000,000 Treasury Stock on Preferred Stock 10000 shares $6,000,000 Retained Earnings $60,000,000

1. Suppose Bruins Inc. was two years in the arrears in paying dividends to the preferred stockholders, then what is the dollar amount of the preferred and common shareholder dividend?
2. How many Bruins common stock shares are outstanding? First two questions in the packet: Bruins Inc. wishes to announce a total cash dividend of $40,000,000. How is this dividend to be split between the common and preferred stockholders?What is the dividend per share for common and preferred after the dividend distribution from question 1 above?