Cool Beans Company has 30,000 shares of 2% cumulative preferred stock of $50 par and 50,000 shares of $50

par commo
Below are the amounts distributed as dividends.
$20,000
$50,000
$90,000
Please determine the amount of dividends paid to common and preferred stock for each scenario presented above.

Cool Beans Company

Preferred Shares
Common Shares

30,000
50,000

Annual Preferred Dividends

$30,000

a)
Total Dividends
Preferred Stock Dividends
Common Stock Dividends

$20,000
$20,000
$0

b)
Total Dividends
Preferred Stock Dividends
Common Stock Dividends

$50,000
$30,000
$20,000

c)
Total Dividends
Preferred Stock Dividends
Common Stock Dividends

$90,000
$30,000
$60,000

2%
$50

$50
par

Par

d 50,000 shares of $50 par common stock.

cenario presented above.