On December 31, 2020, GUMBO Inc. had the following balances in its shareholders' equity accounts on its balance sheet. Preferred stock, 5%, $100 par, cumulative, non-participating $1,000,000 Paid-in capital–excess of par, preferred 100,000 Common stock, $1 par 250,000 Paid-in capital–excess of par, common 500,000 Retained earnings 2,000,000 Treasury stock at cost, 5,000 shares of common 25,000 How much is the total annual dividend owed to the preferred shareholders?

Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e. g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)