Swifty Corporation declared a $228,000 cash dividend. It currently has 11,500 shares of 4%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Swifty distribute to the common stockholders? a. $92,000 b. $136,000 c. $182,000 d. None

Swifty Corporation declared a $228,000 cash dividend. It currently has 11,500 shares of 4%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Swifty distribute to the common stockholders? a. $92,000 b. $136,000 c. $182,000 d. None

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 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...

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The owners' equity accounts for Vulcano International are shown here: Common stock ($1 par value) Capital surplus Retained earnings Total owners' equity a. Assume the company's stock currently sells for $47 per share and a stock dividend of 8 percent is declared. How many new shares will be distributed? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. New shares issued $ 80,000 200,000 660,000 $ 940,000 Show the new balance for each equity account. Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Common stock Capital surplus Retained earnings Total owners' equity
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