At December 31 of year 1 and year 2, Pocoyo Corp. had outstanding 10,000 shares...
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Accounting
At December 31 of year 1 and year 2, Pocoyo Corp. had outstanding 10,000 shares of $100 par value 5% cumulative preferred stock and 20,000 shares of $10 par value common stock. At December 31, year 1, dividends in arrears on the preferred stock were $20,000. Cash dividends declared in year 2 totaled $100,000. Of the $100,000, what amounts were payable on common stock?
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