Question: Yam Corp. had the folowing stock issued and outstanding at January 1, 2014.
1. 69,000 shares of no-par common stock.
2. 10,900 shares of $70 par. 7 percent, cumulative preferred stock. (Dividends are in arrears for one year, 2013.)
On February 1 2014, Yan declared a $123,320 cash dividend to be paid March 31 to sharedholders of record on March 10.
1. What amount of dividends will be paid to the preferred shareholders versus the common shareholders?
|
|
Distributed |
to Shareholders |
|
|
Preferred |
Common |
|
Total Dividend
Declared
|
|
|
|
|
Preferred
arreaage
|
|
|
|
|
Current
preferred dividends
|
_________
|
|
_______________
|
|
vailable for common
Shares
|
|
|
_______ |
|
Distributed to
common stockholders
|
|
|
|
| Total |
|
$ |
$ |