Pharoah Inc. presented the following data:

Net income

$$5,695,000$

Preferred shares: $67,000$ shares outstanding, $$100$ par, $8\%$ cumulative, not convertible

$$6,700,000$

Common shares: Shares outstanding, Jan. $1,2023$

$648,000$

Issued for cash, May $1,2023$

$108,000$

Acquired treasury shares for cash, Sept. $1,2023($shares cancelled$)$

$150,000$

$2-$for$-1$ stock split, Oct. $1,2023$

As at January $1,2023,$ there were no dividends in arrears. On December $31,2023,$ Pharoah declared and paid the preferred dividend for $2023.$