Lafayette, Inc. was founded on January 1, 2014. Lafayette issued 11,000 common shares and 600 preferred shares at that time. Preferred stock is cumulative, $100 par with an 11% dividend. Lafayette has yet to pay dividends. In 2017, Lafayette had its first profitable year, and on November 1, 2017, Lafayette announced its total dividend.
$28,000.
What is the total amount payable to ordinary shareholders?

Answer rating: 100% (QA)

To calculate the total amount payable to ordinary shareholders we need to first calculate the divide... View the full answer