Walla Company has common and preferred stock outstanding as follows: Common stock:100,000 shares, $30 par value 8 percent preferred stock:

Walla Company has common and preferred stock outstanding as follows: Common stock:100,000 shares, $30 par value 8 percent preferred stock:10,000 shares, $100 par value Dividends on preferred stock have not been paid for the last three years (in addition to the current year). Requirement 1: If the company pays a total of $120,000 in dividends, how much will the common stockholders receive per share if the preferred stock is not cumulative? (Round your answer to 2 decimal places. What’s the dividends per share? How much will the common stockholders receive per share if the preferred stock is cumulative?

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