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ACCT 3002 -E3A Final Fall 2017 Question (8) Dividends I5 pointsl The equity section of...

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ACCT 3002 -E3A Final Fall 2017 Question (8) Dividends I5 pointsl The equity section of Lemay Corporation shows the following on December 31, 2016: Share capital preference 6%,$10 par, 8,000 shares outstanding Share capital-ordinary- $10 par, 120,000 shares outstanding Share premium-ordinary Retained earnings Total equity $800 000 1,200,000 228,000 Instructions All of the company's retained earnings are to be paid out in dividends on 12/31/16 and that preference dividends were last paid on 12/31/14. Required: show how much the preference and ordinary shareholders should receive if the preference share are cumulative and fully participating

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