Print by: Erica Burkett AC201:AC201DLS2A 2020 Principles Financial Accounting / AC201 - Chapter 11 Assignment *Do It! Review 11-3a Martinez Corp. has 2,800 shares of 9%, $103 par value preferred stock outstanding at December 31, 2017. At December 31, 2017, the company declared a $121,000 cash dividend. Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios. 1. The preferred stock is noncumulative, and the company has not missed any dividends in previous $1638 9% X 2800 years. 32, The dividend paid to preferred stockholders $ 32, 760 37. 24 The dividend paid to common stockholders 121,0 - 32,760 - 39 2. The preferred stock is noncumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preferred stockholders 32.760 The dividend paid to common stockholders 37,240 3. The preferred stock is cumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preferred stockholders 97.280 (32,76072) 32,760 = The dividend paid to common stockholders $22,720 lalooo - 4.270 - 22,72 Question Attempts: 0 of 3 used