Ontario Manufacturing, Inc., reported the following at December 31, 2016, and December 31, 2017:

Ontario Manufacturing has paid all preferred dividends through 2013.
Requirement
1. Compute the total amounts of dividends to both preferred and common for 2016 and 2017 if total dividends are $90,000 in 2016 and $225,000 in 2017.

Transcribed Image Text:

A1 Stockholders' Equity 2. Preferred stock cumulative $250 par 4%, 55,000 shares issued 3 Common stock, $0.15 par, 9,070,000 shares issued 4 137,500 1,360,500