Preferred Stock, $7\%,$ $$5$ Par, $60,000$shrs Issued & Outstanding....... $300,000$

PICEP $-$ Preferred Stock........................................................................... $60,000360,000$

Common Stock, $$2$ Par, $90,000$shrs Issued & Outstanding......... $180,000$

PICEP $-$ Common Stock............................................................................ $480,000660,000$

Total Contributed Capital................................................................... $1,020,000$

Retained Earnings................................................................................... $580,000$

Total Stockholder's Equity.................................................................. $1,600,000$

Dividend Distributions

$1)$ Preferred Stock is Non$-$Cumulative

Total Dividend Dividend Per Share

Year Dividend Declared To Preferred To Common Preferred Common

$2017$ None

$2018111,000$

$2019156,000$

$2020178,500$

$2)$ Preferred Stock is Cumulative

Total Dividend Dividend Per Share

Year Dividend Declared To Preferred To Common Preferred Common

$2017$ None

$2018111,000$

$2019156,000$

$2020178,500$

#$2-$ Stockholder's Equity

Preferred Stock, $5\%,$ $$11$ Par, $20,000$shrs Issued & Outstanding....... $220,000$

PICEP $-$ Preferred Stock........................................................................... $60,000280,000$

Common Stock, $$2$ Par, $380,000$shrs Issued & Outstanding......... $760,000$

PICEP $-$ Common Stock............................................................................ $680,0001,440,000$

Total Contributed Capital................................................................... $1,720,000$

Retained Earnings................................................................................... $1,475,000$

Total Stockholder's Equity.................................................................. $3,195,000$

Dividend Distributions

$1)$ Preferred Stock is Non$-$Cumulative

Total Dividend Dividend Per Share

Year Dividend Declared To Preferred To Common Preferred Common

$2017$ None

$2018$ None

$201990,800$

$2020144,000$

$2)$ Preferred Stock is Cumulative

Total Dividend Dividend Per Share

Year Dividend Declared To Preferred To Common Preferred Common

$2017$ None

$2018$ None

$201990,800$

$2020144,000$