Patch, Inc. plans to distribute $134,000 in dividends. It has outstanding 200,000 shares of 7% $10 par preferred stock (cumulative) and 60,000 shares of $2 par common stock. How much will be distributed per share on preferred and common stock?$\begin{array} { l l }
\text { Preferred stock } & \text { Common stock } \
\text { A. } \$ 3.35 & \$ 1.12 \
\text { B. } \$ 0.70 & \$ 2.00 \
\text { C. } \$ 0.67 & \$-0- \
\text { D. } \$ 1.68 & \$ 1.68
\end{array}$

Question

Patch, Inc. plans to distribute $134,000 in dividends. It has outstanding 200,000 shares of 7% $10 par preferred stock (cumulative) and 60,000 shares of $2 par common stock. How much will be distributed per share on preferred and common stock?$\begin{array} { l l } 
\text { Preferred stock } & \text { Common stock } \
\text { A. } \$ 3.35 & \$ 1.12 \
\text { B. } \$ 0.70 & \$ 2.00 \
\text { C. } \$ 0.67 & \$-0- \
\text { D. } \$ 1.68 & \$ 1.68
\end{array}$

Quizplus · Accepted Answer

The Answer of Patch, Inc. plans to distribute $134,000 in dividends. It has outstanding 200,000 shares of 7% $10 par preferred stock (cumulative) and 60,000 shares of $2 par common stock. How much will be distributed per share on preferred and common stock?$\begin{array} { l l } 
\text { Preferred stock } & \text { Common stock } \
\text { A. } \$ 3.35 & \$ 1.12 \
\text { B. } \$ 0.70 & \$ 2.00 \
\text { C. } \$ 0.67 & \$-0- \
\text { D. } \$ 1.68 & \$ 1.68
\end{array}$