Dividend Distribution Gardner Corporation began business on June 30, 2013. At that time, it issued 20,000...
Dividend Distribution
Gardner Corporation began business on June 30, 2013. At that time, it issued 20,000 shares of $50 par value, six percent, cumulative preferred stock and 90,000 shares of $10 par value common stock. Through the end of 2015, there had been no change in the number of preferred and common shares outstanding.
Required
a. Assume that Gardner declared dividends of $62,700 in 2013, $0 in 2014, and $345,000 in 2015. Calculate the total dividends and the dividends per share paid to each class of stock in 2013, 2014, and 2015. Round to two decimal places.
Year |
Preferred Stock |
Common Stock |
Preferred per share |
Common per share |
|---|---|---|---|---|
| 2013 | $Answer | $Answer | $Answer | $Answer |
| 2014 | Answer | Answer | Answer | Answer |
| 2015 | Answer | Answer | Answer | Answer |
b. Assume that Gardner declared dividends of $0 in 2013, $120,000 in 2014, and $177,000 in 2015. Calculate the total dividends and the dividends per share paid to each class of stock in 2013, 2014, and 2015. Round to two decimal places.
Year |
Preferred Stock |
Common Stock |
Preferred per share |
Common per share |
|---|---|---|---|---|
| 2013 | $Answer | $Answer | $Answer | $Answer |
| 2014 | Answer | Answer | Answer | Answer |
| 2015 | Answer | Answer | Answer | Answer |
Homework Answers
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Dividend Distribution
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