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everything on it is correct. Missing the last 3 information The records of Hoffman Company reflected the following balances in the stockholders' equity accounts at
everything on it is correct. Missing the last 3 information
The records of Hoffman Company reflected the following balances in the stockholders' equity accounts at December 31, 2015 Common stock, par $12 per share, 46,500 shares outstanding Preferred stock, 8 percent, par $12.5 per share, 7,210 shares outstanding Retained earnings, $233,000 On January 1, 2016, the board of directors was considering the distribution of a $63,300 cash dividend. No dividends were paid during 2014 and 2015 Required: 1. Determine the total and per-share amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions: a. The preferred stock is noncumulative. (Round "Per Share" to 2 decimal places and rest to the nearest dollar amount.) Total Per Share 7,.210f $ 1.00 Paid to the Preferred Stockholders $ Paid to the Common Stockholders56,090: $ 1.21 b. The preferred stock is cumulative. (Round "Per Share" to 2 decimal places and rest to the nearest dollar amount. Total Per Share Paid to the Preferred Stockholders 21,630 Paid to the Common StockholdersStep by Step Solution
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