Ghana corporation has 10,000 shares of its $100 par value, 7 percent cumulative preferred stock outstanding and 50,000 shares of…

Ghana corporation has 10,000 shares of its $100 par value, 7 percent cumulative preferred stock outstanding and 50,000 shares of its $1 par value common stock outstanding.In Ghana’s first four years of operation, its board of directors paid cash dividends as follows:(2009, none; (2010,$120,000);(2011,$140,000); (2012, $140,00)