Question 52 Current Attempt in Progress Sheridan, Inc., has 11300 shares of 5%, $100 par value, noncumulative preferred stock and 113000 shares of $1 par value common stock outstanding at December 31, 2018. If the board of directors declares a $199400 dividend, the preferred stockholders will receive $56500 and the common stockholders will receive $142900. preferred stockholders will receive 1/10th of what the common stockholders will receive. $56500 will be held as restricted retained earnings and paid out at some future date. preferred stockholders will receive the entire $199400. Attempts: 0 of 1 used Save for Later Check