Required information

Skip to question

[The following information applies to the questions displayed below.] Raphael Corporations balance sheet shows the following stockholders equity section.

Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding	$ 80,000
Common stock$___ par value, 4,000 shares authorized, issued, and outstanding	160,000
Retained earnings	370,000
Total stockholders' equity	$ 610,000

2. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $18,600, compute the total amount paid to (a) preferred shareholders and (b) common shareholders. 1. TOTAL AMOUNT PAID TO THE PREFFERED SHAREHOLDER

2.TOTAL AMOUNT PAID TO THE COMMPN SHAREHOLDERS