Crane, Inc., has 4600 shares of 5%,$100 par value, cumulative preferredstock and 36800 shares of $1 par valuecommon stock outstanding fromDecember 31, 2018 through Dec. 31,2020. There were no dividendsdeclared in 2018. The board ofdirectors declares and pays a $45400dividend in 2019 and in 2020. What isthe amount of dividends received bythe common stockholders in 2020?$23000$21800$0$45400right answer is ????

Solution: Correct answer : (b) $21,800 Calculation: Number of share outstanding = 4600 Par value =…

Answered: crane, Inc., has 4600 shares of 5%,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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crane, Inc., has 4600 shares of 5%, $100 par value, cumulative preferred stock and 36800 shares of $1 par valu common stock outstanding from December 31, 2018 through Dec. 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $45400