Pranks, Inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. The corporation has paid several cash dividends throughout 20Y6, the current year. It is also declaring a stock dividend to its stockholders as the calendar year-end approaches. Youve been brought in as a consultant to assist with this process, and also to help determine whether some missing information can be determined before the distribution of the stock dividend is made. The company has two classes of stock: common stock and cumulative preferred stock.

Youve been able to retrieve the following information so far:

Number of common shares authorized	800,000
Number of common shares issued	650,000
Par value of common shares	$20
Par value of cumulative preferred shares	$30
Paid-in capital in excess of par-common stock	$7,000,000
Paid-in capital in excess of par-preferred stock	$0
Total retained earnings before the stock dividend is declared	$33,500,000

	Total Cash	Preferred Dividends		Common Dividends
Year	Dividends	Total	Per Share	Total	Per Share
20Y1	$40,000	$40,000	$0.20	$0	$0.00
20Y2	72,000	72,000	0.36	0	0.00
20Y3	122,000	68,000	0.34	54,000	0.09
20Y4	150,000	60,000	0.30	90,000	0.15
20Y5	168,000	60,000	0.30	108,000	0.18
20Y6	240,000	60,000	0.30	180,000	0.30