Platypus Corporation has the following stock outstanding on December 31, 2019:
(a(Preferred Stock (8 percent cumulative, $60 par, 100,000 shares authorized; 10,000 shares issued and outstanding)
$600,000
(b(Common Stock ($42 par, 1,000,000 shares authorized, 120,000 shares issued and outstanding)
5,040,000
Kangaroo did not pay any dividends in 2017. In 2018, they paid total dividends of $60,000, and in 2019, they paid total dividends of $150,000.
What amount of dividends will be paid to common stockholders in 2019?

Question

Quizplus · Accepted Answer

Preferred stock dividend payable= 10,000 shares x $60 x 8% = $48,000 / year
Distribution of dividends:
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Platypus Corporation Has the Following Stock Outstanding on December 31