Duncan Corporation Has 2,000 Shares of $100 Par Value, 6

Essay

Duncan Corporation has 2,000 shares of $100 par value, 6 percent cumulative preferred stock and 20,000 shares of $10 par value common stock outstanding. In its first four years of operation, Duncan Corporation paid cash dividends as follows: 2007, $15,000; 2008, $0; 2009, $20,000; 2010, $25,000. Calculate the total cash dividends received by owners of preferred and common stock in each year.