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Raphael Corporations balance sheet shows the following stockholders equity section. Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding $ 55,000 Common
Raphael Corporations balance sheet shows the following stockholders equity section.
Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding | $ | 55,000 | |
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding | 140,000 | ||
Retained earnings | 370,000 | ||
Total stockholders' equity | $ | 565,000 | |
4. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $21,550, what total amount will be paid to the preferred and to the common shareholders?
The amount paid to preferred shareholders ___________
The amount paid to common shareholders ___________
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