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Problem - Assume that on December 31, 2019, The Villages Company has outstanding 9,000 shares of $25 par, 5% cumulative, preferred stock and 50,000 shares of $5 par common stock. The Villages was unable to declare a dividend in 2017 or 2018 but wants to declare a $95,000 dividend for 2019. As of December 31, 2019, the fair market value of the preferred shares is $32 per share and the fair market value of the common shares in $22 per share.
Required -
A. How much total cash is distributed to preferred stockholders?
B. How much total cash is distributed to common stockholders?
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