Aztec Industries Has 100,000 Common Shares Outstanding and 10,000 $2

question 109

Essay

Aztec Industries has 100,000 common shares outstanding and 10,000 $2 cumulative preferred shares. If the company declares a total dividend of $35,000, how much will be distributed to common shareholders?

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Definitions:

Secondary Lock

Any of a number of different types of backup locking device; an example is the secondary locking device used on most fifth wheels, which is either manually or automatically engaged.

Stitch Welded

A welding process where welds are made at intervals along the pieces being joined, rather than in a continuous seam, to hold the pieces together while limiting heat distortion.

AWS E-11018

A specification for a type of covered electrode used in shielded metal arc welding, known for its excellent mechanical properties and crack resistance.

Kingpin

A critical pivot point in the steering mechanism of a vehicle, around which the steerable wheels rotate.