Question
RAMA Inc. has 3 types of shares. On 31/12/2020, the followings were outstanding shares: 130,000 share- Common stock, par $ 2 25,000 share- Preferred stock,
RAMA Inc. has 3 types of shares. On 31/12/2020, the followings were outstanding shares:
130,000 share- Common stock, par $ 2
25,000 share- Preferred stock, $ 50 par, 8%
8,000 share- Cumulative preferred stock, $ 100 par, 6%.
On this date, the company declared a total cash dividends of $ 420,000. It should be noted that the company did not pay any dividends during 2018 and 2019.
Required: How much is the total cash dividends that common stockholders will get?
NOTE: (When writing your answer do not use commas or sign of the dollar. For example, if your answer is $10,000, write it as 10000)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started