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Question
sizemore, inc. has 10,000 shares of 6%, $100 par value, cumulative preferred stock and 100,000 shares of $1 par value common stock outstanding at december 31, 2012. if the board of directors declares a $40,000 dividend, the
a.preferred stockholders will receive 1/10th of what the common stockholders will receive
b.preferred stockholders will receive the entire $40,000
c.$40,000 will be held as restricted retained earnings and paid out at some future date
d.preferred stockholders will receive $20,000 and the common stockholders will receive $20,000
Answer
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