Question

NEXX CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION BACK Brief Exercise 15-15 Ma gold cor ration has outstanding i 900 shares of $100 par value, 6% preferred stock and 6,500 shares of Si ar value common stock rhe p eferred stock was issued in January 2017, and no dividends were declared in 2017 or 2018. In 2019, Marigold declares a cash dividend of $274,000. (a) Assume that the preferred are noncumulative. How much dividend will the preferred stockholders receive? Preferred stockholders would receive s How much dividend will the common stockholders receive? Common stockholders would receive (b) Assume that the preferred are cumulative. How much dividend will the preferred stockholders receive? Preferred stockholders would receive How much dividend will the common stockholders receive? Common stockholders would receive Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER

Answer 1

If preferred stock is non cumulative Dividend to preferred stockholders | $ 65,400.00-10900*100*696 Dividend to common stockholders $217,500.00 274000-56500 If preferred stock is cumulative Dividend to preferred stockholders | $196,200.00-10900*100*6%*3 Dividend to common stockholders $ 77,800.00 274000-196200