Question 10 Not yet answered Marked out of Harris Pilton has 5,000 shares of $1.50 par value common stock in issue. The firm also has 6,000 shares of $20.00 par value, 7%, cumulative, nonparticipating preferred stock outstanding. Over the last 3 years, the firm has not paid out any cash dividends. This year, the firm has declared and paid a total of $40,000 of cash dividends.