REQUIRED

Exercs -6 !OI c ounting for cumulative preferred dividends L {fienCtS$ett Corpora o osrganized inJanuaryYcot it immediately issued 4,100 shares Of $52 pat 8 percent;cumulfive preferred Stock and of $9 pat common stock. tts earnings history is as foltows: Year oei loss bi$1BOd\Yea/ nefi income ot $62,800; Yeni net Income of The corporation did not pay a dividend In Year Required Year 2? prefered dividends ete Complete this question by entering answers In the tabs below. A Required B How much is the dividend arrearage as of JanUaryYer97 (DO not round Dividend arearage Requited B > prev @ Iff*act 1 of, 3 Extra Credit Complete this question by entering youranswersin the tabs be o Required A Required B Assume that the board of directors declares a $50,112 cash dividend at Ole end ofYear? (rem a 2 preferred dividends are due). How will the dividend be dlvided between the pfeferre apd coo o stockhol e tolbededucted should be indicated with minus sign. Do 'not round yourinvermediate caicUlations- ea Amount Oitidend dedared Yeat 1 Arrearage Year 29referred dmdends Avai13We Distributed to mmon Distributed to Shareholders Cornrnon Proforrgd < Required A