electric, inc. was incorporated on january 1, 2016. electric issued 7 comma 000 shares of common stock and 1 comma 200 shares of preferred stock on that date. the preferred stock is cumulative, $ 100.00 par, with an 10% dividend rate. electric has not paid any dividends yet. in 2019, electric had its first profitable year, and on november 1, 2019, electric declared a total dividend of $ 50 comma 000. what is the total amount that will be paid to preferred shareholders?

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units.required: prepare a production budget by month and in total, for the second quarter.