Reference no: EM131292898
Sharpie Corporation paid dividends for the years below and their respected amount:
Year Amount
2013 $150,000
2014 $240,000
2015 $560,000
The data related to preferred stock and common stock is listed below:
Preferred Stock, $100 Par Value, 9%, Cumulative and Participating, 100,000 shares authorized, 30,000 shares issued and 26,845 shares outstanding
Common Stock, $1 Par Value, 350,000 shares authorized, 3000,000 shares issued and 265,500 shares outstanding
Compute the total dollar amount to be distributed to preferred stockholders for the year 2015.
You are required to type your answer in the following format – if your answer is $215,589 then type 215,889. Do not use the dollar sign and do not enter any decimals. Your answer must be exact. There is not any issues with rounding.
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