Wades outstanding stock consists of 45,000 shares of cumulative 10.00% preferred stock with a $10 par value

Question:

Wade’s outstanding stock consists of 45,000 shares of cumulative 10.00% preferred stock with a $10 par value and also 112,500 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends.

2011........ $ 36,000

2012....... 39,000

2013....... 85,000

2014....... 125,000

Determine the amount of dividends paid each year to each of the two classes of stockholders. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)

Preferred Common

2011 $ 36,000 $ 0

2012 $ 48,000-INCORRECT $ 0

2013 $ 45,000-INCORRECT $ 40,000 -INCORRECT

2014 $ 45,000 $ 80,000

Determine the total dividends paid to each class for the four years combined. (Omit the "$" sign in your response.)

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...