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***Please show how to get answer*** 38. Of the following ownership rights,...

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38. Of the following ownership rights, which is NOT usually associated with preferred stock? A) Cumulative rights B) Voting rights C) Dividend rights D) Liquidation rights 1. The outstanding stock is composed of 10,000 shares of $100 par, cumulative preferred 5% stock, and 50,000 shares of $20 par common stock. Preferred dividends have been paid every year except for the preceding two years and the current year. If $145,000 is to be distributed as a dividend for the current year, what total amount will be distributed to the preferred stockholders? A. $75,000 B. $0 C. $145,000 D. $150,000 2. A corporation has 40,000 shares of $25 par value stock outstanding. If the corporation issues a 4-for-1 stock split, the number of shares outstanding after the split will be A. 160,000 shares B. 40,000 shares C. 120,000 shares D. 10,000 shares

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