Crane Company has 10,000 shares of 7%, $100 par value, cumulative preferred stock outstanding at December...

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Crane Company has 10,000 shares of 7%, $100 par value, cumulative preferred stock outstanding at December...

Crane Company has 10,000 shares of 7%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividends were declared in 2020 or 2021.

If Crane wants to pay $360,000 of dividends in 2022, what amount of dividends will common stockholders receive?

Dividends allocated to common stock

$enter Dividends allocated to common stock in dollars

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Answer 1

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Answer #1

Answer- Dividends allocated to common stock= $150000.

Explanation- Dividends to preferred shareholders = (10000 shares*$100 per *share)*7%*3 years

= $210000

The amount of dividends will common stockholders receive= $360000-$210000

= $150000

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Answer 2

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