Annabeth, Inc. has outstanding 8,000 shares of $150 par value, 8% nonparticipating, cumulative preferred stock, and 20,000 shares of $45 par value common stock.
If the dividend on preferred stock is one year in arrears, and the total cash dividend declared this year is $420,000, the total amounts distributed to preferred and common stockholders are, respectively:
A) $192,000 and $228,000
B) $ 96,000 and $324,000
C) $120,000 and $300,000
D) $180,000 and $240,000
Correct Answer:
Verified
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