Preferred Dividends

Prestige Investments had the following preferred stock outstanding at the end of a recent year:

$$25$ par, $10\%$

$$42$ par, $8\%,$ cumulative

$$50$ par, $12\%,$ cumulative, convertible

$$80$ par, $11\%,$ nonparticipating

$6,000$ shares

$11,000$ sh$$res

$2,000$ shates

$15,000$ shares

Required:

Determine the amount of annual dividends on each issue of preferred stock and the total annual dividend on all four issues.

Issue $1($ $$25$ par, $10\%)$ of preferred stock

Issue $2($ $$42$ par, $8\%,$ cumulative$)$ of preferred stock

Issue $3($ $$50$ par, $12\%,$ cumulative, convertible$)$ of preferred stock

Issue $4($ $$80$ par, $11\%,$ 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.