The shareholders’ equity of MLS Enterprises includes $200 million of no par common stock and $400 million of 6% cumulative preferred stock.

The shareholders’ equity of MLS Enterprises includes $200 million of no par common stock and $400 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of $50 million in 2011 after paying $20 million cash dividends in both 2010 and 2009.What is the amount of dividends common shareholders will receive in 2011? (Enter your answer in millions. Omit the “$” sign in your response.)

AnswerThe shareholders’ equity of MLS Enterprises includes $200 million of no parcommon stock and $400 million of 6% cumulative preferred stock. The board ofdirectors of MLS declared cash…

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