Answer Happy

Fargo Company's outstanding stock consists of 800 shares of noncumulative 5% preferred stock with a $10 par value and 3,400 shares of common stock with a 51 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends year year 2 year 2 Dividends Declared & Paid $ 24,000 $ 7,000 $ 33,000 The amount of dividends paid to preferred and common shareholders in year is
Multiple Choice 31 О $400 preferred: $23,600 common. Book O $8,000 preferred, $16,000 common $21,000 preferred: $3,000 common $12,000 preferred: $12,000 common $24,000 preferred; SO common