Wilson, Inc. has outstanding 20,000 shares of $80 par value, 6% nonparticipating, cumulative preferred stock, and 30,000 shares of $20 par value common stock.
If the dividend on preferred stock is two years in arrears, and the total cash dividend declared this year is $414,000, the total amounts distributed to preferred and common stockholders are, respectively:
A) $ 96,000 and $318,000
B) $192,000 and $222,000
C) $ 48,000 and $366,000
D) $288,000 and $126,000
Correct Answer:
Verified
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