Homework Answers
Preferred Dividend = 6% * $1200000 = $72000
Preferred Dividend outstanding in 2016 of following years:-
2014 = $72000 - $60000 = $12000
2015 = $72000 - $60000 = $12000
Total = $24000
Amount paid in 2016 to preferred dividend = $72000 + $24000 = $96000
Amount paid in 2016 to common shareholders = $150000 - $96000 = $54000
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Janeek Enterprise
[Preferred shareholders]
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