W UC Knoy J. Shuttle Tracker REPEATED FOR EACH QUESTION): 1. Do NOT use dollar signs or decimals. 2. Round your answers to the nearest dollar. 3. If the answer is zero OR not applicable input the number zero "O". 4. For increases simply input the amount such as 100. 5. For decreases input the amount with a minus sign in front such as -100. FACTS: # common shares issued and outstanding = 500,000 Par value per share common stock = $1.00 # of preferred shares issued and outstanding = 88,000 Par value per share preferred stock = $10.00 Total amount of cash divided declared = $3,000,000 Preferred shareholders are entitled to a dividend equal to par value per share. Question 1 Assume the preferred stock is non-cumulative and non-participating. How much of the dividend IN TOTAL should be allocated to the preferred shareolders