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Please solve question 11, show all calculation, Thank you. 11. The records of White Corporation contain the following information at December 31, 2013. Common shares,
Please solve question 11, show all calculation, Thank you.
11. The records of White Corporation contain the following information at December 31, 2013. Common shares, 10,000 shares outstanding Preferred shares, $1, cumulative, 2,000 shares outstanding Retained earnings, $100,000 On December 31, 2013, the Board of Directors declared a cash dividend of $16,000. While dividends had been paid to both classes of shares in 2011, no dividends had been paid during 2012. Determine the total amounts that would be paid to common and preferred shareholders: a. $14,000; $2,000 b. $12,000; $4,000 c. $10,000; $6,000 d. $8,000; $8,000 e. $6,000; $10,000 Step by Step Solution
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