The following information is given

Paid-in capital
Preferred stock 8% $10 par
100,000 shares authorized 200,000
20,000 shares issued

Common stock .50 par 500,000
shares authorized 300,000
shares issued 150,000

Paid-in capital in excess of common par 600,000
Total paid-in capital 950,000 Retained

earnings 150.00 0
total shareholder capital 1100,000

IS this cumulative or not?
Then calculate the amount of dividends to preferred and common for 2007 and 2008 if the total dividends are 10,000 in 2007 and 50,000 in 2008.

Answer rating: 100% (QA)

The given information does not specify whether the preferred stock is cumulativ... View the full answer