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-   -   The records of Hoffman Company (https://www.askmehelpdesk.com/showthread.php?t=482144)

  • Jun 22, 2010, 11:59 PM
    brho0om91
    The records of Hoffman Company
    The records of Hoffman Company reflected the following balances in the stockholders' equity accounts at December 31, 2009:

    Common stock, par $14 per share, 33,000 shares outstanding.

    Preferred stock, 8 percent, par $12 per share, 7,500 shares outstanding.

    Retained earnings, $216,000.

    On January 1, 2010, the board of directors was considering the distribution of a $67,000 cash dividend. No dividends were paid during 2008 and 2009.

    Required:

    Determine the total and per share amounts that would be paid to the common stockholders and to the preferred stockholders under two independent assumptions (Round your Dividend per share to 2 decimal places. Omit the "$" sign in your response):

    a. The preferred stock is noncumulative.
    b. The preferred stock is cumulative.

    a. Noncumulative:
    Preferred Common
    Total dividend $ $
    Dividend per share $ $

    b. Cumulative:
    Preferred Common
    Total dividend $ $
    Dividend per share $ $
  • Jun 23, 2010, 12:03 AM
    brho0om91

    I found the a. Noncumulative:
    Preferred Common
    Total dividend $7,200
    $59,800
    Dividend per share $0.96
    $1.81
    But couldn't find the cumulative
  • Jun 23, 2010, 12:10 AM
    brho0om91

    Please help
  • Jun 23, 2010, 12:58 AM
    brho0om91

    Please !

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