Accounting?

Saturn Corporation has 19,000 shares of 10%, $76 par noncumulative preferred stock outstanding and 24,000 shares of no-par common stock outstanding. At the end of the current year, the corporation declares a dividend of $184,000. How is the dividend allocated between preferred and common stockholders?

 a

The dividend is allocated $182,400 to preferred stockholders and $1,600 to common stockholders.

 b

The dividend is allocated $81,302 to preferred stockholders and $102,698 to common stockholders.

 c

The dividend is allocated $6,230 to preferred stockholders and $102,698 to common stockholders.

 d

The dividend is allocated $144,400 to preferred stockholders and $39,600 to common stockholders.

1 Answer

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  • Judy
    Lv 7
    2 months ago

    This forum is a place for business questions, not for lazy students to find someone to do their homework for them.

    • Jasmine2 months agoReport

      Dont need anyone to do my homework for me, everyone needs a little help sometimes. Mind your business judy because you dont know me i actually have straight As so you can happily move on :)

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