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Question 41 Macintyre, Inc., has outstanding 10,000 shares of $50 par value, 6%...

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Accounting

Question 41

Macintyre, Inc., has outstanding 10,000 shares of $50 par value, 6% nonparticipating, cumulative preferred stock and 16,000 shares of $10 par value common stock. If the dividend on preferred stock is two years in arrears, and the total cash dividend declared this year is $170,000, then the total amounts distributed to preferred and common stockholders, respectively, are:

A.

$90,000 and $80,000
B.

$60,000 and $110,000
C.

$54,000 and $116,000
D.

$27,000 and $143,000

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