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Year 1 Year 2 Year 3 Amount distributed $18,000 $7,500 $35,000 Preferred dividend (10,000 shares) 10,000 Common dividend (25,000 shares) 8000 Dividends per share: $1

Year 1 Year 2 Year 3 Amount distributed $18,000 $7,500 $35,000 Preferred dividend (10,000 shares) 10,000 Common dividend (25,000 shares) 8000 Dividends per share: $1 Preferred stock $0.32 Common stock $0

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