write my assignment 13642

Andrews Company has $80,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding. The preferred stock is selling for $125 per share, and the common stock is selling for $20 per share

c. Preferred stock is fully participating and cumulative. Preferred dividends are 1 year in arrears at the beginning of the year.

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Schedule of Dividends

                                                              Preferred                                                                                                    Common

Dividends in Arrears                               xxxxxxx

Current Preferred Dividends                   xxxxxxx

Common proportional share                                                                                                                                    xxxxxxx

Remainder                                                                                                                                                               xxxxxxx

Total                                                       xxxxxx                                                                                                       xxxxxxx

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