E10-28A. (Learning Objective 4: Computing dividends on preference and ordinary share)

Huron Manufacturing, Inc., reported the following:

Huron Manufacturing has paid all preference dividends through 20X7.
Requirement 1. Compute the total amounts of dividends to both preference and ordinary shares for 20X6 and 20X7 if total dividends are $70,000 in 20X6 and $130,000 in 20X7.

1 A1 Shareholders' Equity 2 Preference share, cumulative, $0.50 par, 9%, 50,000 shares issued 3 Ordinary share, $0.10 par, 9,180,000 shares issued 4 B $ 25,000 918,000