Sweet Company\'s outstanding stock consists of 1.900 shares of noncumulative 5%

Question

Sweet Company's outstanding stock consists of 1.900 shares of noncumulative 5% peferred stock with a Stoo 11900 shares of common stock with a $10 par value. During the first the following total cash dividends value and three years of operation, the corporation declared and paid year 1 3,900 year 2 $ 9,800 year 3 $41,500 The total amount of dividends paid to preferred and common shareholders over the three-year period is Multiple Choice $28,500 prefemed $26,700 common 19,300 prefeed$35,900 common 8 9 W E command option-

Explanation / Answer

Annual preferred dividend = 1900*100*5% = 9500

So answer is d) $22900 Preferred ; $32300 Common

Preferred Common Total Year 1 3900 0 3900 Year 2 9500 300 9800 Year 3 9500 32000 41500 Total 22900 32300 55200

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.