TOPIC: Reporting and Analyzing Equity Use the following stockholders' equity section of Marcy Company on December 31, 2004 to answer questions 45 through 50. Treat each question independent of the other questions - so your answer to question 46 should not be influenced by the answer to question 45, and so on: Preferred Stock - 6% cumulative, $20 par value, 10,000 shares authorized, 5,000 shares issued and outstanding, $100,000 Contributed Capital in excess of par value, Preferred Stock. 250,000 Common Stock, 85 par value, 20,000 shares authorized, 10,000 shares issued and outstanding. 50,000 Contributed Capital in excess of par value, Common Stock 450,000 Total Contributed Capital.. $ 850,000 Retained Earnings .150,000 Total Stockholders' Equity. $ 2.000.000 45. The average issue price per share of preferred stock must have been A) $20.00 B) $50.00 C) $70.00 D) $35.00 E) $45.00 46. Marcy Compasly did not pay any dividends in 2004. In 2005, they declared and paid total dividends of $4,000, and in 2006, they declared total dividends of $20,000. How much dividends will be paid to preferred and common stockholders in 2006? A) Preferred $20,000, Common SO B) Preferred $8,000, Common $12,000 C) Preferred $18,000, Common $2,000 D) Preferred $14,000, Common $6,000 E) Preferred $12,000. Common $8,000