Item1 5 points Time Remaining 2 hours 39 minutes 8 seconds02:39:08 eBookHintReferencesCheck my workCheck My Work button is now enabled1Item 1 Time Remaining 2 hours 39 minutes 8 seconds02:39:08 Nathan's Athletic Apparel has 2,000 shares of 5%, $100 par value preferred stock the company issued at the beginning of 2023. All remaining shares are common stock. The company was not able to pay dividends in 2023, but plans to pay dividends of $22,000 in 2024. Required: 1.