Goodwin Enterprises had a gross profit of $2,500,000 for the year. Operating expenses and interest expense incurred in that same year were $595,000…

Goodwin Enterprises had a gross profit of $2,500,000 for the year. Operating expenses andinterest expense incurred in that same year were $595,000 and $362,000, respectively.Goodwin had 200,000 shares of common stock and 180,000 shares of preferred stockoutstanding. Management declared a $2.50 dividend per share on the common and a $1.50dividend per share on the preferred. Securities purchased at a cost of $37,500 in a previous yearwere resold at a price of $50,500.