Grouper Corp. has 2,600 shares of 9%, $102 par value preferred stock outstanding

Question

Grouper Corp. has 2,600 shares of 9%, $102 par value preferred stock outstanding at December 31 2017. At December 3 Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios. 1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years. The dividend paid to preferred stockholders The dividend paid to common stockholders 2. The preferred stock is noncumulative, and the company did not pay a dividend in each of the two previous years. 2017, the company declared a S120 000 cash dividend The dividend paid to preferred stockholders The dividend paid to common stockholders 3. The preferred stock is cumulative, and the company did not pay a dividend in each of the two previous years The dividend paid to preferred stockholders The dividend paid to common stockholders

Explanation / Answer

102*9%*2600 23868 1) Dividend to preferred shareholders 23868 dividend to common stockholders 96132 2) Dividend to preferred shareholders 23868 dividend to common stockholders 96132 2) 3) Dividend to preferred shareholders 71604 dividend to common stockholders 48396

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