Question: did I get this correct? please provide pointers. thank you so much. Determining cash dividends to preferred and common shareholders Sinclair company has outstanding 40,000

 did I get this correct? please provide pointers. thank you so

did I get this correct? please provide pointers. thank you so much.

Determining cash dividends to preferred and common shareholders Sinclair company has outstanding 40,000 shares of $50 par value, 6% cumulative preferred stock and 100,000 shares of $10 par value common stock. The company declares and pays cash dividends amounting to $28,000. A. If there are no preferred dividends and arrears, how much in total dividends, and in dividends per share, dues Sinclair pay to each class of stock? 28,000/40,000=$0.70 DPS B. If there are one year's dividends in arrears on the preferred stock, how much in total dividends, and dividends per share, does Sinclair pay to each class of stock

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!