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I could use some help with this question:Egyptian Enterprises has both common and preferred stock.  There are 80,000 shares of $1 par common stock outstanding and 4,000 shares of $9 par, 9% cumulative preferred stock outstanding.  The company did not pay any dividends in 2018.  Distribute dividends to each class of stockholders using the following information:  YearDividends Declared2019$5,5002020$5,5002021$5,000  YearPreferredCommon2019  2020  2021

Question

I could use some help with this question:

Egyptian Enterprises has both common and preferred stock.  There are 80,000 shares of $1 par common stock outstanding and 4,000 shares of $9 par, 9% cumulative preferred stock outstanding.  The company did not pay any dividends in 2018.  Distribute dividends to each class of stockholders using the following information: 

 Year Dividends Declared
2019 $5,500
2020 $5,500
2021 $5,000

 

 

Year Preferred Common
2019    
2020    
2021    
check_circleAnswer
Step 1

Determine the  dividends to be paid in 2018:

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Step 2

Determine the  dividends to be paid in 2019:

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Step 3

Determine the  dividend...

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