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1. Colson Inc. declared a $750,000 cash dividend. It currently has 12,000 shares of 8%, 5100 par value cumulative (nonparticipating) preferred stock outstanding. It is one year in arears (was not paid last year) on its preferred stock. How much cash will Colson distribute to the common stockholders and preferred stockholders? (12) 1. A company issues $1,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020, Interest is paid on June 30 and December 31. The proceeds from the bonds are $980,208. What is interest expense for 2021 using straight-line amortization