paying out preferred and common shares
I hope you receive this the proper way. I have unlimited common shares. I have issues 1,000,000 total of $1,500,000. I have $1,800,000 reatined earings. I have issues 100,000 preferred shared earings at $50 perferred shares.=$5,000,000. I was also authorized unlimited no par value of $4 noncumulative preferred shares.now I have to pay out quaterly shares to the preferred shares. Do I total the three preferred shares $5,000,000
common shares $1,500,000
retained earings $1,800,000
I don't know the amount of what to pay out to the preferred shares