Colder Industries has 30,000 shares of $10 par common stock and 8,500 shares of $50 par, 6% preferred stock outstanding. Total dividends available are $80,000. Compute the dividends to be distributed to preferred and common stockholders under the following condition.
The preferred stock is nonparticipating and non-cumulative with no dividends distributed last year.

Question

Quizplus · Accepted Answer

The Answer of Colder Industries has 30,000 shares of $10 par common stock and 8,500 shares of $50 par, 6% preferred stock outstanding. Total dividends available are $80,000. Compute the dividends to be distributed to preferred and common stockholders under the following condition.
The preferred stock is nonparticipating and non-cumulative with no dividends distributed last year.

Colder Industries Has 30,000 Shares of $10 Par Common Stock