Franklin Corporation had the following shares of stock outstanding from its inception on January 1, 2016...
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Franklin Corporation had the following shares of stock outstanding from its inception on January 1, 2016 through December 31, 2018: Common Stock, $50 par value, 50,000 shares outstanding Preferred Stock, 8%, $100 par value, cumulative, 5,000 shares outstanding No dividends were paid in 2016 or 2017. On December 31, 2018, total cash dividends of $200,000 were declared. The total amounts payable to preferred and common shareholders, respectively, are: $40,000 and $160,000. b. $80,000 and $120,000. c. $100,000 and $100,000. d. $120,000 and $80,000. e. $200,000 and $0. Franklin Corporation had the following shares of stock outstanding from its inception on January 1, 2016 through December 31, 2018: Common Stock, $50 par value, 50,000 shares outstanding Preferred Stock, 8%, $100 par value, cumulative, 5,000 shares outstanding No dividends were paid in 2016 or 2017. On December 31, 2018, total cash dividends of $200,000 were declared. The total amounts payable to preferred and common shareholders, respectively, are: $40,000 and $160,000. b. $80,000 and $120,000. c. $100,000 and $100,000. d. $120,000 and $80,000. e. $200,000 and $0.
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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