Information from the stockholders' equity section of the balance sheet at December 31, 2020, is provided below: This company has been in business for over ten years, but has paid no dividends for the past two years, 2019 and 2020 due to a temporary decline in business. During the current year, 2021, the company has net income of $30,000 and plans to pay a dividend. Complete the table below indicating the amount of dividends that each class of stockholder will receive under the following preferred stock dividend assumptions:

Question

Information from the stockholders' equity section of the balance sheet at December 31, 2020, is provided below:  This company has been in business for over ten years, but has paid no dividends for the past two years, 2019 and 2020 due to a temporary decline in business. During the current year, 2021, the company has net income of $30,000 and plans to pay a dividend. Complete the table below indicating the amount of dividends that each class of stockholder will receive under the following preferred stock dividend assumptions:

Information from the Stockholders' Equity Section of the Balance Sheet