The board of directors of a human resources outsourcing company has declared a dividend of $2,000,000. The company has 800,000 shares of preferred stock that pay $0.90 per share and 1,700,000 shares of common stock. (a) What are the dividends (in $) due the preferred shareholders? $  (b) What is the dividend per share (in $) of common stock? (Round your answer to the nearest cent.) $

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 21EA: James Corporation earned net income of $90,000 this year. The company began the year with 600 shares...
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The board of directors of a human resources outsourcing company has declared a dividend of $2,000,000. The company has 800,000 shares of preferred stock that pay $0.90 per share and 1,700,000 shares of common stock.
(a)
What are the dividends (in $) due the preferred shareholders?
(b)
What is the dividend per share (in $) of common stock? (Round your answer to the nearest cent.)
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