Crane Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,000...

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Crane Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 105,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,600; 2022, $13,800; and 2023, $28,000. (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. 2021 2022 2023 Allocation to preferred stock %24 Allocation to common stock 24 24 24 %24 Crane Corporation was organized on January 1, 2021. During its first year, the corporation issued 2,000 shares of $50 par value preferred stock and 105,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,600; 2022, $13,800; and 2023, $28,000. (a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and noncumulative. 2021 2022 2023 Allocation to preferred stock %24 Allocation to common stock 24 24 24 %24

Answer rating: 100% (QA)

Ans 2021 2022 2023 Total dividend 5600 13800 28000 Al... View the full answer