The shareholders’ equity of tru corporation includes $680,000 of $1 par common stock and $1,280,000 par value of 7% cumulative preferred stock. the company paid $68,000 cash dividends in year 1 and another $68,000 cash dividends in year 2. the board of directors of tru declared cash dividends of $158,000 during year 3. what is the amount of the cash dividends that will be paid to the common shareholders in year 3?

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business.true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.