Business, 21.04.2020 20:53, adiaz97

Ritz Company had the following stock outstanding and Retained Earnings at December 31, 2018: Common stock (par $1; outstanding, 470,000 shares) $ 470,000 Preferred stock, 9% (par $10; outstanding, 20,700 shares) 207,000 Retained Earnings 897,000 On December 31, 2018, the board of directors is considering the distribution of a cash dividend to the common and preferred stockholders. No dividends were declared during 2016 or 2017. Three independent cases are assumed: Case A: The preferred stock is noncumulative; the total amount of 2018 dividends would be $27,000. Case B: The preferred stock is cumulative; the total amount of 2018 dividends would be $27,000. Dividends were not in arrears prior to 2016. Case C: Same as Case B, except the amount is $72,000. Required: 1-a. Compute the amount of dividends in total payable to each class of stockholders if dividends were declared as described in each case. 1-b. Compute the amount of dividends per share payable to each class of stockholders if dividends were declared as described in each case.

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Ritz Company had the following stock outstanding and Retained Earnings at December 31, 2018: Common...