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15 - 22 Test Bank for Intermediate Accounting, Twelfth Edition
98.
What is the payout ratio for Winger Corporation for the year ended 2008?
a. 12.1%
b. 16.0%
c. 36.3%
d. 41.3%
99.
What is the book value per share for Winger Corporation for the year ended 2008?
a. $19.17
b. $20.00
c. $10.43
d. $24.00
Use the following information for questions 100 through 102.
Tomlin, Inc. has outstanding 300,000 shares of $2 par common stock and 60,000 shares of nopar 8% preferred stock with a stated value of $5. The preferred stock is cumulative and
nonparticipating. Dividends have been paid in every year except the past two years and the
current year.
*100. Assuming that $150,000 will be distributed as a dividend in the current year, how much
will the common stockholders receive?
a. Zero.
b. $78,000.
c. $102,000.
d. $126,000.
*101. Assuming that $63,000 will be distributed as a dividend in the current year, how much will
the preferred stockholders receive?
a. $21,000.
b. $24,000.
c. $48,000.
d. $63,000.
*102. Assuming that $183,000 will be distributed, and the preferred stock is also participating,
how much will the common stockholders receive?
a. $111,000.
b. $90,000.
c. $93,000.
d. $48,000.
*103. Wiley, Inc. has 50,000 shares of $10 par value common stock and 25,000 shares of $10
par value, 6%, cumulative, participating preferred stock outstanding. Dividends on the
preferred stock are one year in arrears. Assuming that Wiley wishes to distribute $135,000
as dividends, the common stockholders will receive
a. $30,000.
b. $55,000.
c. $80,000.
d. $105,000.
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