Colliers, inc., has 100,000 shares of cumulative preferred stock outstanding. the preferred stock pays dividends in the amount of $2 per share, but because of cash flow problems, the company did not pay any dividends last year. the board of directors plans to pay dividends in the amount of $600,000 this year. what amount will go to preferred stockholders?

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.