hinunications, Inc., balance sheet The year-end balance sheet of Ft. Smith Products includes the following stockholders' equity section (with certain details omitted): Stockholders' equity: 7%% cumulative preferred stock, $100 par value, 100,000 shares authorized Common stock, $2 par value, 2,400,000 900,000 shares authorized 900,000 Additional paid-in capital: common stock 8,325,000 Retained earnings 2,595,000 Total stockholders' equity $14,220,000 Instructions From this information, compute answers to the following questions: a. How many shares of preferred stock have been issued? b. What is the total amount of the annual dividends paid to preferred stockholders