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1. Donnelly Corporation is authorized to issue 1,000,000 ordinary ...

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(b) Preference Ordinary Total<br />

2010 $ 8,<strong>000</strong> $ -0- $ 8,<strong>000</strong><br />

2011 16,<strong>000</strong> 14,<strong>000</strong> 30,<strong>000</strong><br />

2012 12,<strong>000</strong> 58,<strong>000</strong> 70,<strong>000</strong><br />

(c) Cash Dividends ........................................................................... 70,<strong>000</strong><br />

Preference Dividends Payable............................................ 12,<strong>000</strong><br />

Ordinary Dividends Payable................................................ 58,<strong>000</strong>

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