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  3. 5. (4 points) dividend allocation durden co. has $

5. (4 points) Dividend Allocation Durden Co. has $10 par value, 12% cumulative preferred stock....

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Accounting

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5. (4 points) Dividend Allocation Durden Co. has $10 par value, 12% cumulative preferred stock. There are 10,000 shares issued and outstanding of the preferred stock. The company also has 100,000 shares of $1 par value common stock. No dividends had been paid in the years 2003, 2004, 2005, and 2006. In 2007, the company paid $35,000 in dividends. In 2008, the company paid $65,000 in dividends. Determine the allocation of dividends between preferred and common stockholders for 2007 and 2008. Year Preferred Stock Common Stock Carryover 2003 2004 2005 2006 2007 2008 Totals

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