Question

Ontario Manufacturing, Inc., reported the following at December 31, 2018, and December 31, 2019: (Click the icon to view the data.) Ontario Manufacturing has paid all preferred dividends only through 2015. Requirement 1. Calculate the total amounts of dividends to both preferred and common stockholders for 2018 and 2019 if total dividends are $90,000 in 2018 and $189,000 in 2019. Begin with 2018. Calculate the total amounts of dividends to both Class of Stock 2018 Dividends Data Table - X Preferred Common Total Stockholders' Equity Preferred stock, cumulative, $4.00 par, 5%, 70,000 shares issued Common stock, $0.05 par, 9,250,000 shares issued $ 280,000 462,500 Print [ Done Print Done Enter any number in the edit fields and then click Check Answl.

Answer 1

Annula Preferred Divided = 70,000*4*5% =14,000

Arrears in Preferred Dividend for 2016 and 2017

Class of Stock	2018 Dividend
Preferred (14000*3)	42,000
Common Stock	48,000
Total	90,000