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The outstanding share capital of Sarasota Corporation consists of 3,080 preferred shares and 6,300 common shares for which $252,000 was received. The preferred shares
The outstanding share capital of Sarasota Corporation consists of 3,080 preferred shares and 6,300 common shares for which $252,000 was received. The preferred shares carry a dividend of $6 per share and have a $100 stated value. Assuming that the company has retained earnings of $100,880 that is to be entirely paid out in dividends and that preferred dividends were not paid during the 3 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 O decimal places, e.g. 5,275.) Preferred Dividends $ Common Total 100880
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