Homework Answers
Answer:
| 2021 |
| Declared cash dividend = 4000 |
| Allocation to preferred stock = 2100*50*6% = 6300 which should be limited to 4000 because total dividend declared is 4000. |
| So, allocation to preferred stock = 4000 |
| Allocation to common stock = 4000-4000 = 0 |
| 2022 |
| Declared cash dividend = 13500 |
| Allocation to preferred stock = 2100*50*6% +2300= 8600 |
| Allocation to common stock = 13500 - 8600 = 4900 |
| 2023 |
| Declared cash dividend = 29000 |
| Allocation to preferred stock = 2100*50*6% = 6300 |
| Allocation to common stock = 29000 - 6300= 22700 |
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At December 31, the company declared the following cash dividends:
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(a)
Show the allocation of dividends to each class of stock, assuming
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(Do not leave any answer field blank. Enter 0 for
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