Pranks, inc. is a manufacturer of joke and novelty products for perpetrators of practical jokes. the corporation has paid several cash dividends throughout 20y6, the current year. it is also declaring a stock dividend to its stockholders as the calendar year-end approaches. you’ve been brought in as a consultant to assist with this process, and also to determine whether some missing information can be determined before the distribution of the stock dividend is made. the company has two classes of stock: common stock and cumulative preferred stock. you’ve been able to retrieve the following information so far: number of common shares authorized 800,000 number of common shares issued 650,000 par value of common shares $20 par value of cumulative preferred shares $30 paid-in capital in excess of par-common stock $7,000,000 paid-in capital in excess of par-preferred stock $0 total retained earnings before the stock dividend is declared $33,500,000 total cash preferred dividends common dividends year dividends total per share total per share 20y1 $30,000 $30,000 $0.20 $0 $0.00 20y2 54,000 54,000 0.36 0 0.00 20y3 87,000 51,000 0.34 36,000 0.09 20y4 105,000 45,000 0.30 60,000 0.15 20y5 117,000 45,000 0.30 72,000 0.18 20y6 165,000 45,000 0.30 120,000 0.30