Reference no: EM131004075
Aggarwal Company has had 10,000 shares of 10%, $100 par-value preferred stock and 80,000 shares of $5 stated-value common stock outstanding for the last three years. During that period, dividends paid totaled $0, $200,000, and $220,000 for each year, respectively.
Required:
Compute the amount of dividends that must have been paid to preferred stockholders and common stock- holders in each of the three years, given the following four independent assumptions:
a. Preferred stock is nonparticipating and cumulative.
b. Preferred stock participates up to 12% of its par value and is cumulative.
c. Preferred stock is fully participating and cumulative.
d. Preferred stock is nonparticipating and noncumulative.
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