Chrome File Edit View History Bookmarks People Window Help jack Chapter 11-Conne

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Chrome File Edit View History Bookmarks People Window Help jack Chapter 11-Connect C ? ezto.mheducation.com/hm.tpx . 909 points The records of Hollywood Company refected the following balances in the stockholders' equity accounts at the end of the current year Common stook, $12 par value, 37,00o shares outstanding Preferred stock, 8 percent, $10 par value, 6,000 shares outstanding Retained earnings, $236,000 On September 1 of the current year, the board of directors was considering the distribution of an $83,000 cash dividend. No dividends were paid during the previous two years, You have been asked to determine dividend amounts under two independent assumptions (show a. The preferred stock is nonoumulative. b. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under the two independent assumptions. (Round "per share to 2 decimal places Total Per share Total Per share Hints References Book & Resources Hint e1 5

Explanation / Answer

Distribution of dividend :

2.4

Preferred Common Non cumulative Total 4800 78200 Per share 0.80 2.11 Cumulative Total 14400 68600 Per share

2.4

1.85

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