M. Bot Corporation has 11,000 shares of 8%, $100 par value, cumulative preferred stock outstanding at December 31, 2017. No dividends were declared in 2015 or 2016. If M. Bot wants to pay $410,000 of dividends in 2017, what amount of dividends will common stockholders receive?
$146,000.
Preffered stock dividend=11,000*100*8%=88,000 per year
Preffered stock dividend payable=88,000*3=$264,000.
amount of dividends will common stockholders receive=410,000-264,000=$146,000.
M. Bot Corporation has 11,000 shares of 8%, $100 par value, cumulative preferred stock outstanding at...
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