Slater Lamp Manufacturing has an outstanding issue of preferred stock

Question: Slater Lamp Manufacturing has an outstanding issue…

Slater Lamp Manufacturing has an outstanding issue of preferred stock with a par value of $80 and a 10% annual dividend.

1. What is the annual dollar dividend? If it is paid quarterly, how much will be paid each quarter?
2. If the preferred stock is noncumulative and the board of directors has passed the preferred dividend for the last 2 quarters, how much must be paid to prefer stockholders in the current quarter before dividends are paid to common stockholders?
3. If the preferred stock is cumulative and the board of directors has passed the preferred dividend for the last 2 quarters, how much must be paid to prefer stockholders in the current quarter before dividends are paid to common stockholders?

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1. The annual dollar dividend is _________Round to the nearest cent.)

If it is paid quarterly, the amount paid each quarter will be__________ (Round to the nearest  cent.)

2. If the preferred stock is noncumulative and the board of directors has passed the preferred dividend for the last 2 quarters, the amount that must be paid to preferred stockholders in the current quarter before dividends are paid to common stockholders is_______________ (Round to the nearest cent.)
3. If the preferred stock is cumulative and the board of directors has passed the preferred dividend for the last

2 quarters, the amount that must be paid to preferred stockholders in the current quarter before dividends are paid to common stockholders is________ (Round to the nearest cent.)