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How much will be distributed per share on preferred and

Patch Garden plans to distribute $134 000 in dividends.

It has 20,000 7 per cent preferred share (cumulative) originally issued at $10 and 60 000 ordinary shares.

How much will be distributed per share on preferred and ordinary shares?

a) Preferred shares $1.68; Ordinary shares $1.68

b) Preferred shares $3.35; Ordinary shares $1.12

c) Preferred shares $6.70; Ordinary shares $0

d) Preferred shares $0.70; Ordinary shares $2.00

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Accounting Basics: How much will be distributed per share on preferred and

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