Fischer company has outstanding 8,000 shares of $100 par value, 5% preferred stock, and 50,000 shares...
Homework Answers
Number of common shared outstanding = 50,000
Dividend per common share = $1.80
Total dividend paid on common shares = Number of common shared outstanding x Dividend per common share
= 50,000 x 1.80
= $90,000
Number of preferred shares outstanding = 8,000
Divided par preferred share = $5
Total dividend paid on preferred stock = Number of preferred shares outstanding x Divided par preferred share
= 8,000 x 5
= $40,000
Total dividend paid by company = Total dividend paid on common shares+Total dividend paid on preferred stock
= 90,000+40,000
= $130,000
Correct option is D.
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