The Gibbs Corporation has outstanding 20,000 shares of 10%, $50 par-value, cumulative, nonparticipating preferred stock and 80,000 shares of $10 par-value common stock. There were no dividends in arrears. The board of directors voted to distribute $80,000 as dividends in 2019,
$110,000 in 2020, and $130,000 in 2021.
Compute the following:
1. Total dividend paid to preferred stockholders in 2019.
2. Total dividend paid to common stockholders in 2019.
3. Total dividend paid to preferred stockholders in 2020.
4. Total dividend paid to common stockholders in 2020.
5. Total dividend paid to preferred stockholders in 2021.
6. Total dividend paid to common stockholders in 2021.
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