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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
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[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 | 180,000 | ||
Retained earnings | 350,000 | ||
Total stockholders' equity | $ | 610,000 | |
4. If two years preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $17,000, what total amount will be paid to the preferred and to the common shareholders?
total amount paid to the preferred shareholders ____________
total amount paid to the common shareholders _____________
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