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Capital stock of Barr Company includes: Common stock, $5 par, 650,000 shares outstanding $3,250,000 Preferred stock, 15% cumulative, $60 par, 10,000 shares outstanding 600,000 As
Capital stock of Barr Company includes:
Common stock, $5 par, 650,000 shares outstanding | $3,250,000 |
Preferred stock, 15% cumulative, $60 par, 10,000 shares outstanding | 600,000 |
As of December 31, 2018, 2 years' dividends are in arrears on the preferred stock. During 2019, Barr plans to pay dividends that total $227,000.
Required:
If an answer is zero, enter "0".
1. Determine the amount of dividends that will be paid to Barr's common and preferred stockholders in 2019.
Total dividend to preferred stockholders | $fill in the blank 1 |
Total dividend to common stockholders | $fill in the blank 2 |
2. If Barr paid $320,000 of dividends, determine how much each group of stockholders would receive.
Total dividend to preferred stockholders | $fill in the blank 3 |
Total dividend to common stockholders | $fill in the blank 4 |
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