Conger Inc declares a $45,000 cash dividend on December 31, 2012 The required annual dividend on preferred stock is $10,000 Determine the allocation of the dividend to preferred and common stockholders assuming the preferred stock is cumulative and dividends are 1 year in arrears ...

The allocation of the cash dividend is as fol ...

Conger Inc. declares a $45,000 cash dividend on December 31, 2012. The required annual dividend on preferred

Question:

Conger Inc. declares a $45,000 cash on December 31, 2012. The required annual on preferred stock is $10,000. Determine the allocation of the to preferred and common stockholders assuming the preferred stock is cumulative and dividends are 1 year in arrears.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...