question archive Sheridan, Inc
Sheridan, Inc
Subject:AccountingPrice:2.84 Bought3
Sheridan, Inc. has 11800 shares of 5%, $100 par valve, noncumulative preferred stock and 236000 shares of $1 par value common stock outstanding at December 31, 2020. There were no dividends declared in 2019. The board of directors declares and pays a $65200 dividend in 2020. What is the amount of dividends received by the common stockholders in 2020 O $6200 $0 $65200 $59000 LINK TO TEXT
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Answer: $6200
Explanation:
| Statement Showing Dividend Received by Common Shareholders | |
| Particulars | Amount |
| Total Dividend declared and distributed | $ 65,200 |
| Less: Dividend distributed to noncumulative preferred shareholders | $ 59,000 |
| (11800 shares @$100 each x 5%) | |
| Dividend distributed to common shareholders | $ 6,200 |
