Homework Answers
Answer:
| 1 | preferred stock dividend | $5 | per share |
| 2 | common stock dividend | $0 | per share |
| 3 | preferred stock dividend | $6 | per share |
| 4 | common stock dividend | $ 0.35 | per share |
| 5 | preferred stock dividend | $ 6 | per share |
| 6 | common stock dividend | $ 1.5 | per share |
Explanation:
For 2019:
1) Pref stock dividend:
= $50 × 12%
= $ 6 per share
2) Total dividend in 2019:
= $ 125000 ÷ 25000 pref share
= $ 5 per share
3) So, nothing is left for common stock holder, so for common stock per share amount would be $ 0.
For 2020:
1) Pref Div.
$ 6 per share × 25000 share
= $ 150,000
2) Amount left for common stock holder
= $ 164,000 - $ 150,000
= $ 14,000
3) Per share div for common stock holder:
= $ 14000 ÷ 40,000 share
= $ 0.35 per share
For 2021:
1) Amount left for common stock holder:
= $ 210,000 -$ 150,000
= $ 60,000
2) Per share div. for common stock holder:
= $ 60,000 ÷ 40,000
= $ 1.5 per share
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