Question: PART 6. - Problem Solving- Retained Earnings (5 points) 1. Red, Inc. has 20,000 shares of 5%, $100 par value preferred stock at December 31,

PART 6. - Problem Solving- Retained Earnings (5 points) 1. Red, Inc. has 20,000 shares of 5%, $100 par value preferred stock at December 31, 2016. There were no dividends declared in 2015. The board of directors declares and pays a $320,000 dividend in 2016. Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios. a. The preferred stock is noncumulative, and the company did not pay a dividend in the b. The preferred stock is cumulative, and the company did not pay a dividend in the 2. The following selected amounts are available for Vizio Company. previous year previous year Retained earnings (beginning) Net income Cash dividends declared $1,600 300 200 Question: What is its ending retained earnings balance

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