a.Total par value*Dividend rate = Preferred Dividends
= 45000*7%
= $3,150
b.Preferred Dividend = $3150
Common = 40,000-3150 = $36,850
c.Non-cumulative, since the balance sheet does not mention cumulative.
Had they been cumulative, it would have been mentioned in the equity section
d.Preferred = $3150
Common = 14000-3150 = $10,850
Since shares are non cumulative, previous year dividend will not be paid
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