Dividends on preferred stock are usually established as one of the terms of the issue. Most preferred stock issues fix their dividend rate as a percentage of the par value. For example, an 8% preferred share with a $100 par value has an annual dividend of $8 per share ($100 par 8%). The stockholders' equity section of Greenland Company's Balance Sheet as of December 31, 2013 is shown. Greenland Co. Balance Sheet (Partial) December 31, 2013 Stockholders' equity: Preferred 10% stock, $30 par, 200,000 shares authorized 57,900 shares issued and outstanding $1,737,000 Common stock, $1 par, 1,500,000 shares authorized, 119,800 shares issued and 100,100 outstanding 119,800 Additional paid-in capital: Preferred stock $289,500 Common stock 1,078,200 1,367,700 Total capital stock $3,224,500 Retained earnings 397,900 Less: Treasury stock (19,700 shares, at cost) (216,700) Total stockholders' equity $3,405,700 What is the annual dividend on the Greenland Co. preferred stock? . Dividend preferences for preferred stock take one of three forms: current, cumulative, or participating. Preferred stock with a preference requires the payment of dividends in arrears. Preferred stock that is pays dividends in excess of the stated rate, or amounts in addition to current dividends and cumulative dividends in arrears. Click here for an illustration of a dividend distribution with different types of preferred stock. Rody Corporation has 52,000 shares of $5 par common stock and 13,000 shares of $20 par 6% cumulative preferred stock outstanding. Rody was unable to pay dividends in 2012 so preferred dividends are one year in arrears. In 2013, 2014, and 2015, Rody paid $17,200, $32,200, and $35,800 respectively. Fill in the worksheet showing the amount available for dividends, the amount paid to preferred and common stockholders and the amount in arrears for the years 2012 to 2015: if an amount box does not require, leave it blank or enter "0". Year Amount Available for Dividends Dividends to Preferred Dividends to Common Remaining in Arrears 2012 $ 2013 $ $ $ $ 2014 $ $ $ $ 2015 $ $ $ $