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Neporo4naja [7]
2 years ago
10

Colliers, Incorporated, has 100,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the

amount of $2 per share, but because of cash flow problems, the company did not pay any dividends last year. The board of directors plans to pay dividends in the amount of $600,000 this year.
Required:
a. What amount will go to preferred stockholders?
Dividend Payment to Preferred Stockholders
b. How much will be available for common stock dividends?
Dividend Payment to Common Stockholders
Business
1 answer:
VladimirAG [237]2 years ago
6 0

a. The amount that will go to the preferred stockholders is $400,000.

b. The amount of the declared dividend that will be available for common stock dividends is $200,000 ($600,000 - $400,000).

Data and Calculations:

Cumulative Preferred Stock Outstanding = 100,000 shares

Dividends per share = $2

Cumulative Preferred Dividend last year = $200,000 (100,000 x $2)

Preferred Dividend this year = $200,000 (100,000 x $2)

Total preferred dividend to be paid this year = $400,000

Thus, the Preferred Stockholders will be paid $400,000 ($200,000 for last year and $200,000 for this year).

Learn more: brainly.com/question/24297088

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Answer:

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Explanation:

To calculate the future balance of the interest-earning account use following formula

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PV = present value = Amounr deposited in the account = $90,000

r = Periodic interest rate = 4% x 6/12 = 2%

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Placing values in the formula

FV =  $90,000 x ( 1 + 2% )^6

FV = $101,354

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