Ch15 Q 8

Buffalo Corporation has outstanding 10,300 shares of $100 par value, 6% preferred stock and 56,900 shares of $10 par value common stock. The preferred stock was issued in January 2020, and no dividends were declared in 2020 or 2021. In 2022, Buffalo declares a cash dividend of $302,000.

(b) Assume that the preferred are cumulative. How much dividend will the preferred stockholders receive?

Preferred stockholders would receive

$enter a dollar amount

How much dividend will the common stockholders receive?

Common stockholders would receive

$enter a dollar amount