Problem
Lante Corporation has the following capital stock outstanding:
$1 par value common stock, 250,000 shares.
6% preferred stock, par $100, 6,000 shares, cumulative, with 2 years in arrears.
Cash dividends of $200,000 were declared and paid near the end of the current year.
A. Calculate the dividends received by the preferred stockholders.
B. Calculate the dividends received by the common stockholders.