Tobias Company has 20,000 shares of $100 par, 2% cumulative…
Tobias Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common The following amounts were distributed as dividends: Year 1: $10,000 Year 2: $45,000 Year 3: $90,000 Determine Tobias’ the dividends in arrears for preferred stock for the second year.