The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018:

Preferred stock—5%, $100 par, 5,300 shares outstanding$530,000Common stock—$10 par, 61,000 shares outstanding610,000Paid-in capital in excess of par220,000Retained earnings129,100Total stockholders' equity$1,489,100

Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred and common stockholders should receive if the preferred stock is cumulative and fully participating.

compute

preferred stockholders $

Common stockholders $

Answer rating: 100% (QA)

Here are the stepbystep workings 1 Information given Preferred stock outstanding 5300 shares Par val... View the full answer