At December 31, 2012, Black Company has the following Common Stock, $10 par, 10,000 shares authorized, 9,000 issued, 8,000 outstanding Preferred Stock, $100 par, 8 , cumulative, 1,000 shares authorized, issued, and outstanding The Company did not pay any dividend during 2011 or 2010 Required Compute the amount of dividend to be received by the common and preferred stockholders in 2012 if the company declared a dividend of a $16,000, b $24,000, and c $60,000

Question: At December 31, 2012, Black Company has the following: Common Stock, $10 par, 10,000 shares authorized, 9,000 issued, 8,000 outstanding Preferred Stock, $100 par, 8%,

At December 31, 2012, Black Company has the following: Common Stock, $10 par, 10,000 shares authorized, 9,000 issued, 8,000 outstanding Preferred Stock, $100 par, 8%, cumulative, 1,000 shares authorized, issued, and outstanding The Company did not pay any during 2011 or 2010.
Required
Compute the amount of to be received by the common and preferred stockholders in 2012 if the company declared a of
a. $16,000,
b. $24,000, and
c. $60,000.

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