The Mailer Corporation had the following classes of stock outstanding as of December 31 . 2014: Common stock, $20 par value, 20,000 shares outstanding Preferred stock, 6 percent, $100 par value, cumulative, 2,000 shares outstanding No dividends were paid on preferred stock for 2012 and 2013 . On December 31 . 2014, a total cash dividend of $200,000 was declared. What are the amounts of dividends
payable on both the common and preferred stock, respectively?
a. $0 and $200,000
b. $164,000 and $36,000
c. $176,000 and $24,000
d. $188,000 and $12,000
B
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Answer the following statement true (T) or false (F)
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What will be an ideal response?