The stockholders' equity section of the balance sheet of a company reveals the following information for the year ended December 31, 2020. No additional shares of preferred stock have been issued and no dividends were in arrears. Preferred Stock (6%, $20 par, cumulative, 7,000 shares authorized, 3,000 issued and outstanding) Common Stock ($5 par, 140,000 authorized, 112, 000 issued, 105, 000 outstanding) On December 31 of each of the following years, the company declared the following cash dividends: 2020 $0 2021 $ 8,300 2022 $13, 120 Determine the total amount of dividends that the common stockholders received during the years 2020-2022: Select one: a. $14,220 b. $10, 620 c. $9,520 d. $ 13,120 e. $0
The stockholders' equity section of the balance sheet of a company reveals the following information for the year ended December 31, 2020. No additional shares of preferred stock have been issued and no dividends were in arrears. Preferred Stock (6%, $20 par, cumulative, 7,000 shares authorized, 3,000 issued and outstanding) Common Stock ($5 par, 140,000 authorized, 112, 000 issued, 105, 000 outstanding) On December 31 of each of the following years, the company declared the following cash dividends: 2020 $0 2021 $ 8,300 2022 $13, 120 Determine the total amount of dividends that the common stockholders received during the years 2020-2022: Select one: a. $14,220 b. $10, 620 c. $9,520 d. $ 13,120 e. $0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The stockholders' equity section of the balance sheet of a company reveals the following
information for the year ended December 31, 2020. No additional shares of preferred stock
have been issued and no dividends were in arrears. Preferred Stock (6%, $20 par,
cumulative, 7,000 shares authorized, 3, 000 issued and outstanding) Common Stock ($5 par,
140,000 authorized, 112,000 issued, 105,000 outstanding) On December 31 of each of the
following years, the company declared the following cash dividends: 2020 $0 2021 $
8,300 2022 $13, 120 Determine the total amount of dividends that the common stockholders
received during the years 2020-2022: Select one: a. $14,220 b. $10, 620 c. $9,520 d. $
13,120 e. $0
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