From 2012 to 2014, Lumber Liquidators had the following capital structure:
The board of directors determined the total amount available for dividends in each year from 2012 through 2014 as shown in the following table. Complete the table to indicate the portion of the dividend allocated to preferred and common stockholders in each year. Assume that the preferred stock is noncumulative and nonparticipating.
Definitions:
Contra Revenue Accounts
Accounts on a company's income statement that deduct from gross revenue to arrive at net revenue, reflecting returns, allowances, and discounts.
Sales Revenue
Sales revenue refers to the income received from selling goods or services over a period of time.
Income From Operations
The profit realized from a business's core operating activities, excluding deductions of interest and taxes.
Multiple-Step Income Statement
A detailed financial statement that separates operating revenues and expenses from non-operating ones, providing a clear view of a company's financial performance.
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