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I need help answering the first and the third question. Thank you Exercise 15-22 Your answer is partially correct. Try again Marigold Company's ledger shows
I need help answering the first and the third question. Thank you
Exercise 15-22 Your answer is partially correct. Try again Marigold Company's ledger shows the following balances on December 31, 2017. 8% Preferred Stock-$10 par value, outstanding 20,400 shares Common Stock $100 par value, outstanding 27,300 shares Retained Earnings $204,000 2,730,000 589,000 Assuming that the directors decide to declare total dividends in the amount of $396,000, determine how much each class of stock should receive under each of the conditions stated below. Or year's dividends are in arrears on the preferred stock. (a) The preferred stock is cumulative and fully participating. (Round the rate of participation to 4 decimal places, e.g. 1.4278%. Round answers to 0 decimal places, e.g. $38,487. Preferred Common (b) The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487 ) Preferred Common 16320 379680 c) The preferred stock s noncumulative and is participating in distributions in excess of a 10% dividend rate on the common stock e.g. 1.4278%. Round answers to 0 decimal places, eg. $38,487.) Roun the rate o participation to dec mal places Preferred Common 8011 109189Step by Step Solution
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