The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018 Preferred stock5 , $100 par, 5,500 shares outstanding $550,000 Common stock$10 par, 58,000 shares outstanding 580,000 Paid in capital in excess of par 210,000 Retained earnings 129,200 Total stockholders' equity $1,469,200 Assuming that all of the company's retained earnings are to be paid out in dividends on 12 31 18 and that preferred dividends were last paid on 12 31 16, show how much the preferred and common stockholders should receive if the preferred stock is cumulative and fully participating Preferred stockholders $ Common stockholders $

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Posted on Sep 30, 2024

The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018: Preferred stock5%, $100 par, 5,500 shares outstanding $550,000 Common stock$10 par,

The stockholders' equity section of Lemay Corporation shows the following on December 31, 2018:

Preferred stock5%, $100 par, 5,500 shares outstanding		$550,000
Common stock$10 par, 58,000 shares outstanding		580,000
Paid-in capital in excess of par		210,000
Retained earnings		129,200
Total stockholders' equity		$1,469,200

Assuming that all of the company's retained earnings are to be paid out in dividends on 12/31/18 and that preferred dividends were last paid on 12/31/16, show how much the preferred and common stockholders should receive if the preferred stock is cumulative and fully participating.