Pronghorn Corp.has 6,000 preferred shares outstanding ($ 3.00 dividend), which were issued for $ 170,000, and 50,000 common shares, which were issued for $ 520,000.

The following schedule shows the number of dividends paid out over the past four years. Allocate the dividends to each type of share under assumptions (a) and (b). Express your answers in per share amounts and using the format that is shown.

 

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Assumptions (a) (b) Preferred, non-cumulative, Preferred, cumulative, and non-participating and fully participating Paid- Preferred Common Preferred Common out 2$ 2$ 15,900 $ 32,000 $ $4 2$ 2$ 80,000 $ $ $ 146,000 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 Assumptions (a) (b) Preferred, non-cumulative, Preferred, cumulative, and non-participating and fully participating Paid- Preferred Common Preferred Common out 2$ 2$ 15,900 $ 32,000 $ $4 2$ 2$ 80,000 $ $ $ 146,000 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24 %24

Answer rating: 100% (QA)

Preferred Non Cumulative and Preferred Cumulative and ... View the full answer