Question: Data table Preferred Stock-5%, $13 Par Value; 5,500 shares authorized, 4,000 shares issued and outstanding Common Stock- $0.30 Par Value; 2,150,000 shares authorized, 1,100,000 shares


Data table Preferred Stock-5\%, \$13 Par Value; 5,500 shares authorized, 4,000 shares issued and outstanding Common Stock- $0.30 Par Value; 2,150,000 shares authorized, 1,100,000 shares issued and outstanding Requirement 1. Garnet declares cash dividends of $15,000 for 2018. How much of the dividends goes to preferred stockholders? How much goes to common stockholders? (Complete all inp boxes. Enter " 0 " for any zero amounts.) Garnet's dividend would be divided between preferred and common stockholders in this manner: Requirement 2. Assume the preferred stock is cumulative and Garnet passed the preferred dividend in 2016 and 2017 . In 2018, the company declares cash dividends of $50,000. How much of t dividend goes to preferred stockholders? How much goes to common stockholders? (Complete all input boxes. Enter " 0 " for any zero amounts.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
