The Stockholders Equity section of the balance sheets for Ztop Corporation on December 31, 20X0, and December 31, 20X1, along with other selected account balances on the two dates is provided below. (Certain information is missing from the statements.)

In 20X1 (the current year), the following transactions affecting equity occurred:

1. Additional shares of common stock were issued in July. No other common stock was issued during the year.
2. A cash dividend of $1 per share was declared and paid on common stock in December.
3. The Treasury StockPreferred was purchased at par in January.
4. Additional preferred stock was issued for cash in July.
5. The yearly cash dividend of $0.50 per share was declared and paid on preferred stock outstanding as of December 3, 20X1.

Complete this question by entering your answer in the tabs below. Answer the following questions about transactions in 201 : (Round "sales price per share" answer to 2 decimal places.) Complete this question by entering your answer in the tabs below. What is the yearly dividend reduction because of the treasury stock purchase