Wilson, Inc. has outstanding 20,000 shares of $80 par value, 6% nonparticipating, cumulative preferred stock, and 30,000 shares of $20 par value common stock. If the dividend on preferred stock is two years in arrears, and the total cash dividend declared this year is $414,000, the total amounts distributed to preferred and common stockholders are, respectively: Select one: A. $96,000 and $318,000 B. $192,000 and $222,000 C. $288,000 and $126,000 D. $48,000 and $366,000

Wilson, Inc. has outstanding 20,000 shares of $80 par value, 6% nonparticipating, cumulative preferred stock, and 30,000 shares of $20 par value common stock. If the dividend on preferred stock is two years in arrears, and the total cash dividend declared this year is $414,000, the total amounts distributed to preferred and common stockholders are, respectively: Select one: A. $96,000 and $318,000 B. $192,000 and $222,000 C. $288,000 and $126,000 D. $48,000 and $366,000

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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