Sandhill Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,050 shares of $50 par value preferred stock and 107,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $5,675; 2020, $13,500; and 2021, $28,000.
Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative.
- Anonymous1 month ago
So many cheaters.