Register
Cork inc. declared a $160,000 cash dividend. it currently has 6,000 shares of 6%, $100 par value cumulative preferred stock outstanding. it is one year in arrears on its preferred stock. how much cash
234k views
2 votes
Cork inc. declared a $160,000 cash dividend. it currently has 6,000 shares of 6%, $100 par value cumulative preferred stock outstanding. it is one year in arrears on its preferred stock. how much cash will cork distribute to the common stockholders?

User Artem Luzhanovskyi
by
8.8k points

1 Answer

5 votes
Cork has to pay preferreds first. Owe 6000 x 6 or 36,000 to preferred holders. So 160k - 36k = $124k left for common.
User Prince Owen
by
8.2k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

Who was Adam Smith ? Anybody?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
What is the best way to describe a stock market?
You sell popcorn during your schools football games. Knowing that the people usually buy more when the price is lower, how would you price your popcorn after halftime?
Link Copied!