The outstanding share capital of Bridgeport Corporation consists of $3,245$ preferred shares and $5,900$ common shares for which $$265,500$ was received. The preferred shares carry a dividend of $$6$ per share and have a $$100$ stated value.

The outstanding share capital of Bridgeport Corporation consists of $3,245$ preferred shares and $5,900$ common shares for which

$$265,500$ was received. The preferred shares carry a dividend of $$6$ per share and have a $$100$ stated value.

$($a$)$

Question Part Score

$($b$).$

Question Part Score

$($c$)$

Your answer is partially correct.

Assuming that the company has retained earnings of $$87,300$ that is to be entirely paid out in dividends and that preferred

dividends were not paid during the $2$ years preceding the current year, state how much each class of shares should receive if the

preferred shares are cumulative and participating. $($Round answers to $0$ decimal places, e$.$g$.5,275.)$