Durango inc had net income for 2014 of 2120000 and earnings, Ask an Expert

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Durango Inc had net income for 2014 of $2,120,000 and earnings per share on commong stock of $5. Included in the net income was $300,000 of bond interest expense related to its long term debt. The income tax rate for 2012 was 30%. Dividends on preferred stock were $400,000. The payout ratio on common stock was 25%. What were the dividends on common stock in 2014?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9962771

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