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73 A company's board of directors votes to declare a cash dividend of...

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Accounting

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A company's board of directors votes to declare a cash dividend of $1.15 per share of common stock. The company has 23,000 shares authorized, 18,000 issued, and 17,500 shares outstanding. The total amount of the cash dividend is: Multiple Choice o $25,450. o $20,700. o $20125. o . $40,825. o $26,450. Torino Company has 2.300 shares of $20 par value. 7.5% cumulative and nonparticipating preferred stock and 23.000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $3,000 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is: Multiple Choice $3.450. $450. $3.000. $6.900. $3.900

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