The outstanding share capital of Sheng Inc. includes 53,000 shares of $9.60 cumulative preferred and 88,000...

 

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The outstanding share capital of Sheng Inc. includes 53,000 shares of $9.60 cumulative preferred and 88,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends: Year 2021 2022 2023 2024 Total Dividends Declared Preferred Common Total $ 536,000 1,098,000 536,000 Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years. 2021 0 $ 2022 Total Dividends 2023 0 $ 0 $ 2024 0 $ S The outstanding share capital of Sheng Inc. includes 53,000 shares of $9.60 cumulative preferred and 88,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends: Year 2021 2022 2023 2024 Total Dividends Declared Preferred Common Total $ 536,000 1,098,000 536,000 Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years. 2021 0 $ 2022 Total Dividends 2023 0 $ 0 $ 2024 0 $ S

Answer rating: 100% (QA)

Solution Annual Preferred dividend 53000 shares 960 508800 Working note Total dividend Annual P... View the full answer