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13) which of these terms best describes the site where Love Canal hou $7.05   Add to cart
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13) which of these terms best describes the site where Love Canal hou
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13) which of these terms best describes the site where Love Canal houses were built? A. grassroots B. brownfield C. abandoned site D. Superfund E. landfill 14)Bioremediation is a waste management option. It means A. the same as phytoremediation B. using microbes to destroy hazardous wastes C. th...

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  • June 26, 2023
  • 1
  • 2022/2023
  • Exam (elaborations)
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The stockholders


Solution
60,000 x 8% x $5 = $24,000 is owed to preferred shareholders each year. With
cumulative preferred shares, preferred shareholders must be paid any dividends owed (in arrears)
before common shareholders receive dividends. 3 years x $24,000 = $72,000 owed to preferred
shareholders Also, since the preferred shares are participating, any dividends beyond the
prescribed rate (8%) are shared on a ratio basis between preferred shareholders and common
shareholders. 300,000 x 8% x $2 = $48,000 owed to common shareholders. 183,000 - 72,000 -
48,000 = $63,000 remaining to be shared 300,000 x $2 = $600,000 total par value of common
stock 60,000 x $5 = $300,000 total stated value of preferred stock 600,000 + 300,000 = $900,000
total par and stated value 63,000 remaining dividend / 900,000 = 7% participation rate for
remaining dividend 600,000 par value x 7% = $42,000 owed to common shareholders 300,000
par value x 7% = $21,000 owed to preferred shareholders Totals Preferred Dividends = 72,000 +
21,000 = $93,000 Common Dividends = 48,000 + 42,000 = c. $90,000

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