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The outstanding capital stock of Bonita Corporation consists of 2,100 shares of $100 par value, 5% preferred, and 4,600 shares of $50 par value common.
Assuming that the company has retained earnings of $84,000, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.
(a)The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.)
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Preferred |
Common |
|
|
$ |
$ |
(b)The preferred stock is cumulative and nonparticipating. (Round answers to 0 decimal places, e.g. $38,487.)
|
Preferred |
Common |
|
|
$ |
$ |
(c) The preferred stock is cumulative and participating. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 0 decimal places, e.g. $38,487.)
|
Preferred |
Common |
|
|
$ |
$ |
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