Which of the following is not a common characteristic of preferred stock?
a. Voting rights
b. Preference as to dividends
c. Preference in liquidation
d. Callability by the corporation
e. None of the answers are correct.
A
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The balances of select accounts of Sandra, Inc
as of December 31, 2016 are given below: Debit Credit Building $140,000 Cash 8,000 Office Supplies 1,100 Furniture 5,000 Prepaid Insurance 450 Accumulated Depreciation-Furniture $3,000 Land 32,000 Accumulated Depreciation-Building 4,700 Accounts Receivable 2,300 The insurance has been prepaid until June 30, 2017. Determine the amount of total current assets reported on the balance sheet. A) $15,300 B) $9,100 C) $11,850 D) $9,550
XYZ Company has assets that are traditionally 75% of sales, and its liabilities traditionally are
20% of sales. Sales for this year are $100,000 and sales for next year are projected to be $200,000 with a profit margin of 8%. The owners take a 60% payout. Using the percentage of sales method, XYZ will need ________ of additional financing. A) $50,000 B) $48,600 C) $68,400 D) $70,000 E) No new financing is required.