13) which of these terms best describes the site where Love Canal hou
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Course
Bussiness
Institution
Bussiness
13) which of these terms best describes the site where Love Canal houses were built? A.
grassroots B. brownfield C. abandoned site D. Superfund E. landfill 14)Bioremediation is a
waste management option. It means A. the same as phytoremediation B. using microbes to
destroy hazardous wastes C. th...
Solution
60,000 x 8% x $5 = $24,000 is owed to preferred shareholders each year. With
cumulative preferred shares, preferred shareholders must be paid any dividends owed (in arrears)
before common shareholders receive dividends. 3 years x $24,000 = $72,000 owed to preferred
shareholders Also, since the preferred shares are participating, any dividends beyond the
prescribed rate (8%) are shared on a ratio basis between preferred shareholders and common
shareholders. 300,000 x 8% x $2 = $48,000 owed to common shareholders. 183,000 - 72,000 -
48,000 = $63,000 remaining to be shared 300,000 x $2 = $600,000 total par value of common
stock 60,000 x $5 = $300,000 total stated value of preferred stock 600,000 + 300,000 = $900,000
total par and stated value 63,000 remaining dividend / 900,000 = 7% participation rate for
remaining dividend 600,000 par value x 7% = $42,000 owed to common shareholders 300,000
par value x 7% = $21,000 owed to preferred shareholders Totals Preferred Dividends = 72,000 +
21,000 = $93,000 Common Dividends = 48,000 + 42,000 = c. $90,000
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