Ch15 Q 8 Buffalo Corporation has outstanding 10,300 shares of $100 par value, 6% preferred...
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Accounting
Ch15 Q 8
Buffalo Corporation has outstanding 10,300 shares of $100 par value, 6% preferred stock and 56,900 shares of $10 par value common stock. The preferred stock was issued in January 2020, and no dividends were declared in 2020 or 2021. In 2022, Buffalo declares a cash dividend of $302,000.
(b) Assume that the preferred are cumulative. How much dividend will the preferred stockholders receive?
Preferred stockholders would receive
$enter a dollar amount
How much dividend will the common stockholders receive?
Common stockholders would receive
$enter a dollar amount
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