Stockholders' Equity

Paid-In Capital:

Preferred Stock4%, $12 Par Value; 150,000 shares

authorized, 30,000 shares issued and outstanding

$360,000

Common Stock$3 Par Value; 575,000 shares

authorized, 330,000 shares issued and outstanding

990,000

Paid-In Capital in Excess of ParCommon

990,000

Total Paid-In Capital

2,340,000

Retained Earnings

140,000

Total Stockholders' Equity

$2,480,000

Requirement 1. Assuming the preferred stock is cumulative, compute the amount of dividends to preferred stockholders and to common stockholders for

2018

and

2019

if total dividends are

$13,400

in

2018

and

$46,000

in

20192019.

Assume no changes in preferred stock and common stock in

2019

(Assume all preferred dividends have been paid prior to

2018

Complete all input boxes. Enter a "0" for zero amounts. For the current year preferred dividend, be sure to enter the calculated dividend on the "current year dividend" line and the paid out dividend on the "total dividend to preferred stockholders" line.)

SouthernSouthern's

2018

dividend would be divided between preferred and common stockholders in this manner: