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Business, 16.07.2021 23:20, gabegabemm1
Fargo Company's outstanding stock consists of 400 shares of noncumulative 5% preferred stock with a $10 par value and 3,000 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends.
Year Dividend Declared
2015 $20,000
2016 $6,000
2017 $32,000
The amount of dividends paid to preferred and common shareholders in 2015 is:
a. $200 preferred; $19,800 common.
b. $4,000 preferred; $16,000 common.
c. $17,000 preferred; $3,000 common.
d. $10,000 preferred; $10,000 common.
e. $20,000 preferred; $0 common.
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Answers: 3
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