(Answered) Question the duval company was incorporated with 5

Accounting

Question: The Duval Company was incorporated with 5% preferred capital stock of $600,000 and common stock of $1,600,000. The par value of the preferred stock was $100, and the par value of the common stock was $20.

Last year, dividends were declared by the Duval Company, which had earnings totaling $302,000.

a. What was the total amount of the preferred stock dividend? $

b. What amount would have been paid on each share of common stock if all the earnings had been distributed? $ per share

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