Assume the following capital structure: Preferred stock, 5%, $50 par value, 1,200 shares issued and outstanding with dividends in arrears for the three prior years. Common stock, $100 par value, 2,200 shares issued and outstanding. Total dividends declared and paid in current year were $52,000. How much of the current dividend will be paid to the preferred stockholders assuming the preferred stock is cumulative

On january 1, 2017, pharoah company issued 10-year, $2,020,000 face value, 6% bonds, at par. each $1,000 bond is convertible into 16 shares of pharoah common stock. pharoah’s net income in 2017 was $317,000, and its tax rate was 40%. the company had 97,000 shares of common stock outstanding throughout 2017. none of the bonds were converted in 2017. (a) compute diluted earnings per share for 2017. (round answer to 2 decimal places, e.g. $2.55.) diluted earnings per share