Eerie Manufacturing, Inc., reported the following: Stockholders’ Equity Preferred stock, cumulative,
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Eerie Manufacturing, Inc., reported the following: Stockholders’ Equity Preferred stock, cumulative, $1.50 par, 7%, 50,000 shares issued….. $ 75,000 Common stock, $0.20 par, 9,110,000 shares issued………………………1,822,000 Eerie Manufacturing has paid all preferred dividends through 2007. Requirement 1. Compute the total amounts of dividends to both preferred and common for 2010 and 2011 if total dividends are $100,000 in 2010 and $200,000 in 2011.
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