John Dear Co. is a heavy equipment and lawn care products manufacturer located in Illinois. John Dear
Question:
John Dear Co. is a heavy equipment and lawn care products manufacturer located in Illinois. John Dear is publicly owned, and has declared the following dividends over a six year period:20X1, $ 760,000; 20X2, $ 1,250,000; 20X3, $ 0; 20X4, $ 3,020,000; 20X5, $ 120,000; and 20X6, $ 1,000,000. During the entire period, the outstanding stock of the company was composed of 600,000 shares of cumulative, nonparticipating 2%, $20 Par Preferred stock and 2,000,000 shares of common stock, $ 5 par.
Calculate the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears on Jan. 1, 20X1.
Round to the nearest cent.
Preferred Dividends Common Dividends
Year Total Dividends Total Per Share Arrears Total Per Share
20X120X220X320X420X520X6
Step by Step Answer:
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw