yosemite bike corp. manufactures mountain bikes and distributes them through retail outlets in california, oregon, and washington. yosemite bike has declared the following annual dividends over a six-year period ended december 31 of each year: 20y1, $24,000; 20y2, $10,000; 20y3, $121,000; 20y4, $95,000; 20y5, $120,000; and 20y6, $140,000. during the entire period, the outstanding stock of the company was composed of 25,000 shares of cumulative preferred 2% stock, $90 par, and 100,000 shares of common stock, $4 par.