Testbank Multiple Choice Question 118

Concord Corporation has 157000 shares of $10 par value common stock and 78500 shares of $10 par value, 5%, cumulative, participating preferred stock outstanding. Dividends on the preferred stock are one year in arrears. Assuming that Concord wishes to distribute $270000 as dividends, the common stockholders will receive

$116140.

$153860.

$191500.

$ 78500.