Raphael Corporations common stock is currently selling on a stock exchange at $175 per share,...
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Accounting
Raphael Corporations common stock is currently selling on a stock exchange at $175 per share, and its current balance sheet shows the following stockholders equity section:
| Preferred stock5% cumulative, $___ par value, 1,000 shares authorized, issued, and outstanding | $ | 70,000 |
| Common stock$___ par value, 4,000 shares authorized, issued, and outstanding | 180,000 | |
| Retained earnings | 370,000 | |
| Total stockholders' equity | $ | 620,000 |
| 1. If two years preferred dividends are in arrears and the board of directors declares cash dividends of $17,600, what total amount will be paid to the preferred and to the common shareholders. 2. What is the amount of dividends per share for the common stock? (Round your answer to two decimal places.) | ||
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