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Exercise 14-02 a-c (Part Level Submission) Wildhorse Corporation was organized on January 1, 2019. During its first year, the
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Dividend of preferred stock per year = Preferred shares * Par value * Dividend % = 2000 * 50 * 6% 6000
In the case of noncumulative preferred stock, no dividends will be paid for any previous non payment.
Years Total cash dividend paid Paid to preferred Paid to common
2019 5300 5300 0
2020 13700 6000 7700
2021 27000 6000 21000
2019 2020 2021
Allocation to preferred stock 5300 6000 6000
Allocation to common stock 0 7700 21000
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