A company has 15,000 shares of $100 par 6% cumulative preferred stock and
20,000 shares of $1 par common stock and pays out the following:
		Year	Total
		2010	135,000
		2011	75,000
		2012	150,000
		2013	100,000
Prepare the distribution to the stockholders under two situations. First the preferred stock is cumulative, second it is non-cumulative.

Homework assignments for corporations part 1

2. On May 31 XYZ Company declared a $0.20 per share cash dividend to be paid on June 15 to shareholders of record on June 10. There were 50,000 shares of common stock authorized, 35,000 issued and 30,000 outstanding.