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Net sales and net income for 2014 were $504,000 and $40,320 respectively. Dividends of $4,480 were declared for common stockholders and $6,720 for preferred shareholders
Net sales and net income for 2014 were $504,000 and $40,320 respectively. Dividends of $4,480 were declared for common stockholders and $6,720 for preferred shareholders in 2014. Preferred stockholders' equity is equal to 10% of total stockholders' equity. Compute the indicated ratios at December 31,2014, or for the year ended December 31, 2014, as appropriate. (Round answers to 2 decimal places, e.g. 2.12.)
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