Durden co has 10 par value 12 cumulative preferred stock

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Reference no: EM13592925

Durden Co. has $10 par value, 12% cumulative preferred stock. There are 10,000 shares issued and outstanding of the preferred stock. The company also has 100,000 shares $1 par value common stock. No dividends has been paid in the years 2003,2004,2005, and 2006. In 2007, the company paid $35,000 in dividends. In 2008, the company paid $65,000 in dividends. Determine the allocation of dividends between preferred and common stockholders for 2007 and 2008.

Reference no: EM13592925

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