Saturn corporation has 13,000 shares of 14%, $ 81 par noncumulative preferred stock outstanding and 26,000 shares of nominuspar common stock outstanding. at the end of the current year, the corporation declares a dividend of $ 197,000. how is the dividend allocated between preferred and common stockholders?

The dividend allocated between preferred and common stockholders is $147,420 and $49,580 respectively

Explanation:

We know that the total dividend amount declares is $197,000 out of which first preference stockholders will get the dividend and  afterwards equity stockholders will give.

The computation of the  preference stockholders dividend is shown below:

= Number of shares × dividend rate × per share value

= 13,000 shares × 14% × $81

= $147,420

And, the total dividend declared is $197,000

So, for the common stockholders, the dividend would be

= $197,000 - $147,420

= $49,580

All other information which is given is not relevant. Hence, ignored it

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