From its inception through the year of 2017, First Mart, Inc. was profitable and made strong dividend payments each year. In the year 2018, First Mart had major losses and paid no dividends. In 2019, the company started making large profits again, and they were able to pay dividends to all shareholders—both common and preferred. There are 2000 shares of cumulative, 10% preferred stock outstanding. The preferred stock has a par value of $100. What is the total amount of dividends that should be paid to the preferred stockholders in December, 2019?
A) $60,000
B) $90
C) $20,000
D) $40,000
D) $40,000
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Mercedes Company paid $20,000,000 to acquire 100% of the outstanding common stock of Benz Incorporated on January 1, 2018. The book value of Benz's net assets on the date of acquisition was $17,000,000. Benz's buildings were undervalued by $1,500,000 as of January 1, 2018; the buildings had a ten-year remaining life as of the date of acquisition. There are no other book-to-fair value differences for the other assets and liabilities of Benz. Mercedes retained earnings as of January 1, 2018 was $5,750,000, while Benz reported retained earnings of $3,175,000. Mercedes net income was $1,750,000 during 2018 and was $2,035,000 during 2019; the 2018 and 2019 net income amounts did not include any amounts pertaining to the Benz investment. Benz's retained earnings increased $1,050,000 from
January 1, 2018 to December 31, 2019 even though Benz declared $225,000 of dividends during that two-year period.Required:Determine the December 31, 2019 consolidated retained earnings balance. What will be an ideal response?
True or False: Electronic communicators must abide by copyright law
Indicate whether the statement is true or false
Matthew has been designated by KyoTek to help mediate disputes. He listens to employees' complaints and then tries to seek solutions through negotiation and mediation. Matthew is known as a(n)
A. hearing officer. B. employee assistance program counselor. C. step-review coordinator. D. ombudsman.
The knowledge retailers can gain from their store personnel and customer relationship management databases is valuable for developing
A. increased customer loyalty. B. global private-label brands. C. supply chain relationships. D. omnichannel retailing. E. extreme value retailing efforts.