Preferred Dividends

Magic Conglomerates had the following preferred stock outstanding at the end of a recent year:

$25 par, 10%	6,000 shares
$33 par, 8%, cumulative	11,000 shares
$50 par, 12%, cumulative, convertible	2,000 shares
$80 par, 11%, nonparticipating	15,000 shares

Required: 1. Determine the amount of annual dividends on each issue of preferred stock and the total annual dividend orn all four issues. Issue 1 ($25 par, 10%) of preferred stock Issue 2 ($33 par, 8%, cumulative) of preferred stock Issue 3 ($50 par, 12%, cumulative, convertible) of preferred stock Issue 4 ($80 par, 1196, nonparticipating) of preferred stock Total annual dividend 2. Calculate what the amount of dividends in arrears would be if the dividends were omitted for 1 year