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Delafield Corporation has a single class of common stock and a single class of cumulative preferred stock. The cumulative preferred stock requires the corporation
Delafield Corporation has a single class of common stock and a single class of cumulative preferred stock. The cumulative preferred stock requires the corporation to pay an annual dividend of $13,000 to preferred stockholders. On January 1, 2023, Delafield's preferred dividends were 1 year in arrears. During the 3 years (2023-2025), Delafield's board of directors determined they would be able to pay $22,000, $19,000, and $25,000, respectively. Required: Show how these anticipated payments will be split between preferred and common stockholders. If an amount box does not require an entry, leave it blank and if the answer is zero, enter "0". Amount Available Year for Dividends Dividends to Preferred Dividends Remaining to Common in Arrears 2022 0 0 13,000 2023 22,000 22,000 4,000 2024 19,000 2025 25,000 0
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