What amount will go to preferred stockholders

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Question - Colliers, Incorporated, has 115,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the amount of $3 per share, but because of cash flow problems, the company did not pay any dividends last year. The board of directors plans to pay dividends in the amount of $800,000 this year.

Required -

1. What amount will go to preferred stockholders?

2. How much will be available for common stock dividends?

Reference no: EM133154495

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