Computing dividends on preferred and common stock [15-20 min]The following elements of sto...

Computing dividends on preferred and common stock [15-20 min]

The following elements of stockholders’ equity are adapted from the balance sheet of Sandler Marketing, Corp.

Sandler paid no preferred dividends in 2011.

Requirement

1. Compute the dividends to the preferred and common shareholders for 2012 if total dividends are $195,000.