The Duval Company was incorporated with 6% preferred capital stock of $400,000 and common stock...
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Finance
The Duval Company was incorporated with 6% preferred capital stock of $400,000 and common stock of $2,250,000. The par value of the preferred stock was $100, and the par value of the common stock was $25.
Last year, dividends were declared by the Duval Company, which had earnings totaling $330,000.
a. What was the total amount of the preferred stock dividend?
b. What amount would have been paid on each share of common stock if all the earnings had been distributed?
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