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How much cash will intrepid distribute to common stockholder

Question: Intrepid Inc. declared a $1,000,000 cash dividend. It currently has 15,000 shares of 6%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Intrepid distribute to the common stockholders?

a. $910,000

b. $1,000,000

c. $180,000

d. $820,000

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Accounting Basics: How much cash will intrepid distribute to common stockholder

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Accounting Basics: How much cash will intrepid distribute to common stockholder

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