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  3. skysong, inc. has 7000 shares of 496, $100 par val

Skysong, Inc. has 7000 shares of 496, $100 par value, cumulative preferred stock and 70000...

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Accounting

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Skysong, Inc. has 7000 shares of 496, $100 par value, cumulative preferred stock and 70000 shares of $1 par value common stock outstanding at December 31, 2017, If the board of directors declares a $17500 dividend, the preferred stockholders will receive $8000 and the common stockholders will receive $8000 $17500 will be held as restricted retained earnings and paid out at some future date O preferred stockholders will receive 1/10th of what the common stockholders will receive. preferred stockholders ill receive the entire $17500

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