Keener Company has had 1,000 shares of 7%, $100 par preferred stock and 40,000 shares of $5

Question:

Keener Company has had 1,000 shares of 7%, $100 par preferred stock and 40,000 shares of $5 stated LO 16.1 value outstanding for the last 3 years. During that period, dividends paid totaled $6,000, $28,000, and $30,000 for each year, respectively.
Required:
Compute the amount of dividends that Keener must have paid to preferred shareholders and common shareholders in each of the 3 years, given the following 3 independent assumptions:
1. Preferred stock is nonparticipating and non cumulative.
2. Preferred stock is nonparticipating and cumulative.
3. Preferred stock is fully participating and cumulative. Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...