The records of hoffman company reflected the following

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Reference no: EM13576153

The records of Hoffman Company reflected the following balances in the stockholders' equity accounts at December 31, 2009:

Common stock, par $13 per share, 43,000 shares outstanding.

Preferred stock, 10 percent, par $13 per share, 6,700 shares outstanding.

Retained earnings, $214,000.

On January 1, 2010, the board of directors was considering the distribution of a $67,000 cash dividend. No dividends were paid during 2008 and 2009.

Required:

Determine the total and per share amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions

a.	The preferred stock is noncumulative.
b.	The preferred stock is cumulative.

a. Noncumulative:

	Preferred	Common
Total dividend	$	$
Dividend per share	$	$

b. Cumulative:

	Preferred	Common
Total dividend	$	$
Dividend per share	$	$

Reference no: EM13576153

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