Question
Reyelle Manufacturing had 2,000 shares of 8%, $100 par value, cumulative preferred stock, and 100,000 shares of $1 par value common stock outstanding at 1/1/19.
Reyelle Manufacturing had 2,000 shares of 8%, $100 par value, cumulative preferred stock, and 100,000 shares of $1 par value common stock outstanding at 1/1/19. No additional shares were issued in 2019 or 2020. No shares were repurchased. The board of directors declared and paid a $10,000 dividend in 2019. In 2020, a $30,000 dividend was declared and paid.
How much of the 2019 dividend was distributed to preferred stockholders, in total?
How much of the 2020 dividend was distributed to common stockholders, in total?
For both questions, enter with no $ sign, no decimals. Use commas if necessary.
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