oration reported the following: shareholders' equity information and other data Shareholders' Equity Preferred shares, redeemable, nonvoting, cumulative; authorized 16,000 shares, liquidation value $350,000 $ 350,000 Common shares, authorized 200,000 shares; issued 90,000 shares 340,000 120,000 Retained earnings $ 810,000 Total shareholders' equity Notes to the financial statements indicate that 16,000 of the cumulative preferred shares were issued and outstanding. The shares paid a dividend of $1.40. Preferred dividends have not been paid for three years, including the current year. On the balance sheet date, the market value of Owl Corporation's common shares was $3.00 per share, Print Done -