Sheridan Company has outstanding 603000 shares of $2 par common stock and 119000 shares of no-par...

 

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Sheridan Company has outstanding 603000 shares of $2 par common stock and 119000 shares of no-par 6% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year. Assuming that $217000 will be distributed as a dividend in the current year, how much will the common stockholders receive? Sheridan Company has outstanding 603000 shares of $2 par common stock and 119000 shares of no-par 6% preferred stock with a stated value of $5. The preferred stock is cumulative and nonparticipating. Dividends have been paid in every year except the past two years and the current year. Assuming that $217000 will be distributed as a dividend in the current year, how much will the common stockholders receive?