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Dedrick Incorporated did not pay dividends in 2021 or 2022 , even though 49,800 shares of its 8.0%,$60 par value cumulative preferred stock were outstanding
Dedrick Incorporated did not pay dividends in 2021 or 2022 , even though 49,800 shares of its 8.0%,$60 par value cumulative preferred stock were outstanding during those years. The company has 269,000 shares of $3.5 par value common stock outstanding. Required: a. Calculate the annual dividend per share obligation on the preferred stock. Note: Round your answer to 2 decimal places. b. Calculate the amount that would be received by an investor who has owned 200 shares of preferred stock and 300 shares of common stock since 2020 if a \$0.50 per share dividend on the common stock is paid at the end of 2023. Note: Do not round intermediate calculations
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