Question
The board of directors of Midwest Foods has declared a dividend of $3,500,000.The company has 300,000 shares of preferred stock that pay $2.85 per share
The board of directors of Midwest Foods has declared a dividend of $3,500,000.The company has 300,000 shares of preferred stock that pay $2.85 per share and 2,500,000 shares of common stock.After first finding the amount of dividends due to the preferred shareholders, calculate the dividend per share of common stock.
A.$1.06
B.$1.57
C.$13.50
D.$4.50
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Ethics in Accounting A Decision Making Approach
Authors: Gordon Klein
1st edition
1118928334, 978-1118928332
