Question: Rim Corporation has 5 000 shares of its 100 par value

Rim Corporation has 5,000 shares of its $100 par value, 7 percent cumulative preferred stock outstanding, and 25,000 shares of its $1 par value common stock outstanding. In Rim’s first four years of operation, its board of directors paid cash dividends as follows: 2009, none; 2010, $60,000; 2011, $70,000; 2012, $70,000.
Determine the dividends per share and total cash dividends paid to the preferred and common stockholders during each of the four years.

Sale on SolutionInn
  • CreatedSeptember 10, 2014
  • Files Included
Post your question