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Connect C Secure I https://new connect.mheducation.com/flow/connect.html ::: Apps Ro k marks Down nad music, m- Ru utemame Rlackboard earn The Ricklist Watch O "atm Ma es Onlir HRU Port -Top 100 M ies of A How to Dr etNa e Tool TH2 w r Rase l my it k Chap 8 Probs 21 & 22 i Help Save & Exit Submit Check my work Nowell Inc. had the following stock issued and outstanding at January 1, 2013: 10 1. 150,000 shares of no-par common stock, points 2. 30,000 shares of $50 par, 4 percent, cumulative preferred stock. (Dividends are in arrears for one year, 2017) HInt On March 8, 2018, Nowell declared a S175,000 cash dividend to be paid March 31 to shareholders of record on March 20 Required What amount of dividends will be paid to the preferred shareholders versus the common shereholders? (Negative amount should be indicated by a minus sign.) Distributed to Shareholders Preferred Common Total Dividend Declared Preferred Arrearage Current Preterred Dividend Available for Common Distributed to Common Tolal Prev 10121 Ne> Hill 2:19 AM O Type here to search ^4x ENG 11/25/a 1125/201717Explanation / Answer
NOWELL INC: Distributed to Shareholders Preferred Common Total dividend declared 175000 Preferred arrearage (30000*$50*4%) -60000 60000 Current preferred dividend (30000*$50*4%) -60000 6000 Available to common 55000 Distributed to common Total -55000 55000 Total 66000 55000 MING CORPORATION: BALANCE SHEET Stockholders' Equity: Common stock, $10 par, 50000 shares authorized, 5000 shares issued and outstanding. 50000 Paid in capital in excess of par-common stock 24000 Paid in capital in excess on sale-Treasury stock 240 Total paid in capital 74240 Retained earnings (46000+43000) 89000 Total capital 163240 Treasury stock (380*$18) 6840 Total stockholders' equity 156400
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