Solution-What was the net income available to the common

What was the net income available to the common shareholders

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Reference no: EM132823647

Question - Stellar Corp. had the following shares issued and outstanding for all of 20X9: 300,000 common shares; 30,000 9%, Class A non-cumulative preference shares with a par value of $100 each; and 35,000 6%, Class B cumulative preference shares with a par value of $100 each. Select information is provided below for the company's year ended December 31, 20X9:

Net income for the year - $4,560,000

Dividends on common shares - paid $50,000; declared $80,000

Dividends on Class A preference shares - paid $250,000; declared $270,000

Dividends on Class B preference shares - paid $420,000; declared $230,000

Required - What was the net income available to the common shareholders for 20X9?

Reference no: EM132823647

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What was the net income available to the common shareholders

Reference no: EM132823647

Reference no: EM132823647

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