Exercise $8-15($Algo$)$ Preferred stock$-$calculate dividend amounts LO $8-2$

Rosie Incorporated did not pay dividends on its $$7\mathrm{.}50,$$$41$ par value, cumulative preferred stock during $2021$ or $2022,$ but had met its preferred dividend requirement in all prior years. Since $2017,26,000$ shares of this stock have been outstanding. Rosie Incorporated has been profitable in $2023$ and is considering a cash dividend on its common stock that would be payable in December $2023.$

Required:

Calculate the amount of dividends that would have to be paid on the preferred stock before a cash dividend could be paid to the common stockholders.

Dividends

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