I need to subtract preferred stock from net income, but the only information for preferred stock is this:

Preferred stock $.01 par value ($.0625 at August 31, 2014); authorized 32 million shares, noneissued.

I know you have to multiply the par value by the percentage, but I'm extremely confused here. Please help me.

I need to subtract preferred stock from net income, but the only information for preferred stock is this:

Preferred stock $.01 par value ($.0625 at August 31, 2014); authorized 32 million shares, noneissued.

I know you have to multiply the par value by the percentage, but I'm extremely confused here. Please help me.

If they haven't been issued they are at par value. How can income exist if they haven't been issued and in any case they are capital not income