BusinessCourse The stockholders' equity of DiFrancesco Company at March 31, 2019 is shown below. 4% preferred stock, $1,000 par value, 25,000 shares authorized; 10,000 shares issued and outstanding $10,000,0 Common stock, $1 par value, 3,000,000 shares authorized; 700,000 shares issued and outstanding 700,0 Additional paid-in capital-preferred stock Additional paid-in capital-common stock Retained earnings Total stockholders' equity 60,0 17,150,0 58,806,8 $86,716,8 The following transactions, among others, occurred during the fiscal year ended March 31, 2020. April 15, 2019 Declare and pay preferred dividends of $480,000. April 15, 2019 Declare and pay common dividends of $1.80 per share. October 1, 2019 Execute a 3-for-1 stock split of the common stock when the stock price was $168 per share. March 1, 2020 Declare and pay common dividends of $1.00 per share