Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2008. What is the annual dividend on the preferred stock? a. $60 per share b. $30.000 in total

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000
shares of $1 par value common stock outstanding at December 31, 2008. What is the
annual dividend on the preferred stock?
a. $60 per share
b. $30,000 in total
c. $3,000 in total
d. $0.60 per share
Transcribed Image Text:Sun Inc. has 5,000 shares of 6%, $100 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2008. What is the annual dividend on the preferred stock? a. $60 per share b. $30,000 in total c. $3,000 in total d. $0.60 per share
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