ISE 11.4 A portion of the stockholders' equity section from the balance sheet of Walland Corporation appears as follows: s: Preferred mon Stockholders' equity: Preferred stock, 9% cumulative, $50 par, 40,000 shares Preferred stock, 12% noncumulative, $100 par, 8,000 Common stock, $5 par, 400,000 shares authorized, issued, 800,000 $4,800,000 Assume that all the stock was issued on January 1 and that no dividends were paid during the first two years of operation. During the third year, Walland Corporation paid total cash dividends of $736,000 a. Compute the amount of cash dividends paid during the third year to each of the three classes of stock. b. Compute the dividends paid per share during the third year for each of the three classes of stock. c. What was the average issue price of each type of preferred stock