Manner Corp. has 10,000 shares of 5%, $80 par value, noncumulative preferred stock and 20,000 shares of $5 par value common stock outstanding on December 31, 2022. There were no dividends declared in 2021. The board of directors declared and paid a $70,000 dividend in 2022. What is the amount of dividends received by the common stockholders in 2022?

Manner Corp. has 10,000 shares of 5%, $80 par value, noncumulative preferred stock and 20,000 shares of $5 par value common stock outstanding on December 31, 2022. There were no dividends declared in 2021. The board of directors declared and paid a $70,000 dividend in 2022. What is the amount of dividends received by the common stockholders in 2022?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...

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