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Ravsten Company has 1,000 shares of $100 par value, 9 percent cumulative preferred stock and 10,000 shares of $5 par value common stock issued and
Ravsten Company has 1,000 shares of $100 par value, 9 percent cumulative preferred stock and 10,000 shares of $5 par value common stock issued and outstanding. In its first two years of operation, Ravsten paid cash dividends as follows: 2015 = $6,000: 2016 = $20,000. What dollar amount would be paid to the common shareholders in 2016? a. $8,000. b. $9,000. c. $11,000. d. $12,000. c. None of the above
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