Exercise 10-74 (Algorithmic) Cumulative Preferred Dividends Capital stock of Barr Company includes: $3,250,000 Common stock,...
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Exercise 10-74 (Algorithmic) Cumulative Preferred Dividends Capital stock of Barr Company includes: $3,250,000 Common stock, $5 par, 650,000 shares outstanding Preferred stock, 15% cumulative, $60 par, 10,000 shares outstanding 600,000 As of December 31, 2018, 2 years' dividends are in arrears on the preferred stock. During 2019, Barr plans to pay dividends that total $219,000. Required: If an answer is zero, enter "O". 1. Determine the amount of dividends that will be paid to Barr's common and preferred stockholders in 2019. Total dividend to preferred stockholders $ 219,000 Total dividend to common stockholders 2. If Barr paid $322,000 of dividends, determine how much each group of stockholders would receive. Total dividend to preferred stockholders Total dividend to common stockholders
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