Wang Corp. had $100,000 of 7%, $20 par value preference shares and 12,000 shares of $25 par

Question:

Wang Corp. had $100,000 of 7%, $20 preference shares and 12,000 shares of $25 ordinary shares outstanding throughout 2019.
a. Assuming that total dividends declared in 2019 were $64,000 and that the preference shares are not cumulative but are fully participating, ordinary shareholders should receive 2019 dividends totaling what amount?
b. Assuming that total dividends declared in 2019 were $64,000 and that the preference shares are fully participating and cumulative with preference dividends in arrears for 2018, preference shareholders should receive 2019 dividends totaling what amount?
c. Assuming that total dividends declared in 2019 were $30,000; that the preference shares are cumulative, non-participating, and were issued on January 1, 2018; and that $5,000 of preference dividends were declared and paid in 2018, the ordinary shareholders should receive 2019 dividends totaling what amount?
Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...