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SIZIF [17.4K]
2 years ago
8

The shareholders' equity of Green Corporation includes $288,000 of $1 par common stock and $480,000 par of 6% cumulative preferr

ed stock. The board of directors of Green declared cash dividends of $58,000 in 2021 after paying $28,000 cash dividends in each of 2020 and 2019. What is the amount of dividends common shareholders will receive in 2021?
Business
1 answer:
Sever21 [200]2 years ago
6 0

Answer:

$62,160

Explanation:

The calculation of amount of dividends is shown below:-

Arrears in Preferred Stock Dividend

= $480,000 × 6% × 2 - $28,000 - $28,000

= $57,600 - $28,000 - $28,000

= $1,600

Current Preferred Stock Dividend = Common stock × cumulative preferred stock percentage

= $480,000 × 6%

= $28,800

The amount of dividends common shareholders = Cash dividends - Current Preferred Stock Dividend - Arrears in Preferred Stock Dividend

= $58,000 - $28,800 - $1,600

= $62,160

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Suppose the price of gasoline decreases from $4.20 to $2.00, and in response quantity demanded increases from 10600 to 11200. Us
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Answer:

0.079

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