Stockholders' equity of Ernst Company consists of 82,000 shares of $5 par value, 10% cumulative...
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Stockholders' equity of Ernst Company consists of shares of $ par value, cumulative preferred stock and shares of $ par value common stock. Both classes of stock have been outstanding since the company's inception. Ernst did not declare any dividends in the prior year, but it now declares and pays a $ cash dividend at the current yearend. Determine the amount distributed to each class of stockholders for this twoyearold company. 
Stockholders' equity of Ernst Company consists of shares of $ par value, cumulative
preferred stock and shares of $ par value common stock. Both classes of stock have been
outstanding since the company's inception. Ernst did not declare any dividends in the prior year, but
it now declares and pays a $ cash dividend at the current yearend.
Determine the amount distributed to each class of stockholders for this twoyearold company.
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