The following is the shareholders’ equity section of Bramble Corp. at December 31, 2020:

Preferred shares,a authorized 100,000 shares; issued 39,000 shares $ 1,326,000

Common shares (unlimited authorized, 62,000 issued) 1,550,000

Contributed surplus 129,000

Total paid-in capital 3,005,000

Retained earnings 2,386,500

Total shareholders’ equity $ 5,391,500

The preferred shares have a $2 dividend rate, are cumulative, and participate in distributions in excess of a $3 dividend on the common shares.

No dividends were paid in 2018 or 2019. On December 31, 2020, Bramble wants to pay a cash dividend of $5 per share to common shareholders. How much cash would be needed for the total amount to be paid to preferred and common shareholders? (Round excess return percentage to 4 decimal places, e.g. 52.7531% and final answer to 0 decimal places, e.g. 5,275.)

Required

-Preferred Common Total Amount to be paid to shareholders

-Prefer Common Total

Answer rating: 100% (QA)

Answer Ercers dividend paid to common shaneholdensper Common sfo... View the full answer