Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued*$3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 *All shares were issued during 2018.2. Calculate the dividends paid per share to both the preferred and the common shares in 2020 assuming preferred shares are cumulative. (Round the final answers to 2 decimal places.) PreferredCommonYearTotal DividendDividendDividend2018$167,000 $167,0002019306,200100,800407,0002020236,600330,400567,000Total for three years$709,800$431,200 $1,141,0002. Calculate the dividends paid per share to both the preferred and the common shares in 2020 assuming preferred shares arecumulative. (Round the final answers to 2 decimal places.)Dividends Paidper SharePreferred sharesCommon shares

Cumulative Preference Shares: In the case of missing dividend payments in the past, cumulative…

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 73E: Preferred Dividends Eastern Inc.s equity includes 8%, $25 par preferred stock. There are 100,000...

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Preferred shares, $4.55 non-cumulative,
52,000 shares authorized and issued*	$	3,328,000
Common shares,
87,000 shares authorized and issued*		1,392,000

*All shares were issued during 2018.

2. Calculate the dividends paid per share to both the preferred and the common shares in 2020 assuming preferred shares are cumulative. (Round the final answers to 2 decimal places.)

Preferred
Common
Year
Total Dividend
Dividend
Dividend
2018
$
167,000 $
167,000
2019
306,200
100,800
407,000
2020
236,600
330,400
567,000
Total for three years
$
709,800
$
431,200 $
1,141,000
2. Calculate the dividends paid per share to both the preferred and the common shares in 2020 assuming preferred shares are
cumulative. (Round the final answers to 2 decimal places.)
Dividends Paid
per Share
Preferred shares
Common shares

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