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Calculate the total cash dividends received by owners

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Question - Acton Corporation had the following stock outstanding for years 20x5 through 20x8:

Preferred Stock-$100 par value, 7 percent cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding.

Common Stock-$20 par value, 10,000 shares authorized, 7,000 shares issued and outstanding.

Acton paid $20,000, $30,000, and $100,000 in cash dividends during 20x5, 20x6, and 20x7.

Calculate the total cash dividends received by owners of common stock in 2007.

Reference no: EM132438560

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