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$[$The following information applies to the questions displayed below.$]$

Raphael Corporation's balance sheet shows the following stockholders'equity section.

Preferred stock$-5\%$ cumulative, $

par value, $1,000$ shares authorized, issued, and outstanding

Common stock$-$$

par value, $4,000$ shares authorized, issued, and outstanding

Retained earnings

Total stockholders: equity

If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $$17,600,$

compute the total amount paid to $($a$)$ preferred shareholders and $(b)$ common shareholders.

a$.$ Total amount paid to the preferred shareholders

b$.$ Total amount paid to the common shareholders

Required information

$[$The following information applies to the questions displayed below.$]$

Raphael Corporation's balance sheet shows the following stockholders'equity section.

Preferred stock$-5\%$ cumulative, $

par value, $1,000$ shares authorized, issued, and outstanding

Common stock$-$$

par value, $4,000$ shares authorized, issued, and outstanding

Retained earnings

Total stockholders: equity

If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $$17,600,$

compute the total amount paid to $($a$)$ preferred shareholders and $(b)$ common shareholders.

a$.$ Total amount paid to the preferred shareholders

b$.$ Total amount paid to the common shareholders

Required information

$[$The following information applies to the questions displayed below.$]$

Raphael Corporation's balance sheet shows the following stockholders'equity section.

Preferred stock$-5\%$ cumulative, $

par value, $1,000$ shares authorized, issued, and outstanding

Common stock$-$$

par value, $4,000$ shares authorized, issued, and outstanding

Retained earnings

Total stockholders: equity

If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $$17,600,$

compute the total amount paid to $($a$)$ preferred shareholders and $(b)$ common shareholders.

a$.$ Total amount paid to the preferred shareholders

b$.$ Total amount paid to the common shareholders

Required information

$[$The following information applies to the questions displayed below.$]$

Raphael Corporation's balance sheet shows the following stockholders'equity section.

Preferred stock$-5\%$ cumulative, $

par value, $1,000$ shares authorized, issued, and outstanding

Common stock$-$$

par value, $4,000$ shares authorized, issued, and outstanding

Retained earnings

Total stockholders: equity

If two years' preferred dividends are in arrears at the current date and the board of directors declares cash dividends of $$17,600,$

compute the total amount paid to $($a$)$ preferred shareholders and $(b)$ common shareholders.

a$.$ Total amount paid to the preferred shareholders

b$.$ Total amount paid to the common shareholders

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