Calculate the annual cash dividends required to be paid for each of the following preferred stock issues:  Required: $3.10 cumulative preferred, no par value; 240,000 shares authorized, 114,000 shares issued. (The treasury stock caption of the stockholders' equity section of the balance sheet indicates that 41,036 shares of this preferred stock issue are owned by the company.) (Round your answer to 2 decimal places.) 5%, $40 par value preferred, 231,000 shares authorized, 175,000 shares issued, and 73,463 shares outstanding. (Round your answer to 2 decimal places.) 12.0% cumulative preferred, $90 stated value, $104 liquidating value; 77,000 shares authorized, 43,000 shares issued, 37,000 shares outstanding.

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.