Business, 21.04.2020 21:32 SauceyNaee

The records of Hollywood Company reflected the following balances in the stockholders' equity accounts at the end of the current year: Common stock, $11 par value, 38,000 shares outstanding Preferred stock, 11 percent, $9 par value, 10,000 shares outstanding Retained earnings, $225,000 On September 1 of the current year, the board of directors was considering the distribution of an $72,000 cash dividend. No dividends were paid during the previous two years. You have been asked to determine dividend amounts under two independent assumptions (show computations): a. The preferred stock is noncumulative. b. The preferred stock is cumulative. Required: 1. Determine the total and per share amounts that would be paid to the common stockholders and the preferred stockholders under the two independent assumptions. (Round your "per share" amounts to 2 decimal places.)

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