Hank Owns 100 Shares of Cumulative Preferred Stock in Wayside

question 22

Multiple Choice

Hank owns 100 shares of cumulative preferred stock in Wayside Transport,Inc.Kelsey owns 50 non-cumulative preferred shares,and Oleg owns 120 shares of common stock.Wayside does not pay dividends in 2007.In 2009

• A)Hank and Kelsey must receive their 2009 dividends before Oleg is paid any 2009 dividends.
• B)Oleg cannot receive any 2009 dividends until Hank is paid for the 2007 dividends.
• C)Kelsey cannot receive the dividends Wayside could not afford to pay in 2007. She will just lose them.
• D)All of the above.

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Definitions:

Axopods

Long, slender, and sometimes retractable projections of some eukaryotic cells involved in locomotion or feeding.

Flagellated Cells

Cells possessing one or more flagella, which are long, whip-like structures that can propel the cells through liquid environments.

Red Algae

A large group of algae known for their reddish color, which is caused by phycoerythrin; they are mostly marine and play a role in coral reef ecosystems.

Serial Endosymbiosis Hypothesis

A theory suggesting that the organelles of eukaryotic cells, such as mitochondria and chloroplasts, originated as symbiotic relationships between separate prokaryotic organisms.