Question: Eastern Communications has the following shareholders equity Eastern Communications Shareholders

Eastern Communications has the following shareholders’ equity:
Eastern Communications Shareholders’ Equity
Share Capital:
Preferred Shares, 15%, unlimited number of shares authorized
28,000 shares issued and outstanding .......... $ 280,000
Common Shares, 500,000 shares authorized
320,000 shares issued and outstanding ........ 710,000
Total Share Capital ................. 990,000
Retained Earnings ................. 160,000
Total Shareholders’ Equity .............. $1,150,000
Requirement
Assume the preferred shares are cumulative. Compute the amount of dividends to preferred and common shareholders for 2014 and 2015 if total dividends are $36,000 in 2014 and $51,000 in 2015.


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  • CreatedJuly 08, 2015
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