What is total amount that will be paid to common stockholder

Reference no: EM131900283

Problem

Lafayette, Inc. was incorporated on January 1, 2014. Lafayette issued 11,000 shares of common stock and 600 shares of preferred stock on that date. The preferred stock is? cumulative, $100 par, with an 11% dividend rate. Lafayette has not paid any dividends yet. In 2017, Lafayette had its first profitable? year, and on November? 1, 2017, Lafayette declared a total dividend of $28,000.

What is the total amount that will be paid to common stockholders?

Reference no: EM131900283

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