Homework 11 hm.tpx Philo THIS IS THE CORRE M inbox (117-studen AC210 Phillips Li

Question

Homework 11 hm.tpx Philo THIS IS THE CORRE M inbox (117-studen AC210 Phillips Libby Libb ACCOUNTING mework 11 Question 4 (of 9) value 11.00 points Colliers, Inc. has 130,000 shares of cumulative preferred stock outstanding The preferred stock pays dividends in the amount of $3 per share, but because of cash flow problems, the company did not pay any dividends last year. The board of directors plans to pay dividends in the amount of $900,000 this year 1. What amount will go to preferred stockholders? Payment to Preferred Stock 2. How much will be available for common stock dividends? Dividend Payment to Common Stock References eBook & Resources Worksheet Difficulty: 1 Easy Learning transact

Explanation / Answer

For Preferential stocks holders:

$780,000 ($390,000 for last year and current year @ $3 for each)

For common stock holders:

$120,000

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