Texas Inc. has 12,000 shares of 8%, $125 par value cumulative preferred stock and 90,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a.$7,200 in total b.$0.01 per share c.$120,000 in total d.$80.00 per share

Texas Inc. has 12,000 shares of 8%, $125 par value cumulative preferred stock and 90,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock? a.$7,200 in total b.$0.01 per share c.$120,000 in total d.$80.00 per share

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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Question

a.$7,200 in total

b.$0.01 per share

c.$120,000 in total

d.$80.00 per share

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