Ex Act Corporation pays dividends at the end of each year
Ex-Act Corporation pays dividends at the end of each year. The dividends that it paid for 2012, 2013, and 2014 were $160,000, $120,000, and $360,000, respectively. Calculate the total amount of dividends Ex-Act paid in each of these years to its common and preferred stockholders under both of the following capital structures:
(1) 40,000 shares of $100 par, 6 percent noncumulative preferred stock and 120,000 shares of $10 par common stock;
(2) 20,000 shares of $100 par, 7 percent cumulative preferred stock and 120,000 shares of $10 par common stock. Ex-Act had no dividends in arrears at the beginning of 2012.

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