The following elements of stockholders’ equity are adapted from the balance sheet of Scribner Corporation.

Scribner Corporation paid no preferred dividends in 2010 but paid the designated amount of cash dividends per share to preferred shareholders in all prior years.
Requirement

1. Compute the dividends to preferred and common shareholders for 2011 if total dividends are $150,000.

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Stockholders' Equity Preferred Stock, cumulative, $2 par (Note 7), 50,000 shares issued and outstanding Common Stock, $0.10 par, 9,000,000 shares issued and outstanding $ Thousands $100 900