| Information needed to complete the problem: | |||||||
| Total equity of preferred stock | $500,000 | ||||||
| Total equity of common stock | $40,000 | ||||||
| (1) Determine the total dividends and the per share dividends | |||||||
| declared on each class of stock for each of the six years. | |||||||
| There were no dividends in arrears on January 1, 2002.If | |||||||
| you find it helpful, use the work area below to compute the | |||||||
| total annual dividends for each year. | |||||||
| ************************************************ | |||||||
| WORK AREA: Dividends to be allocated | $0 | ||||||
| Preferred | Common | ||||||
| Arrears dividends | |||||||
| Current dividends | |||||||
| Division of remainder | |||||||
| Subtotal | $0 | $0 | |||||
| Total dividends | $0 | ||||||
| ========= | |||||||
| ************************************************ | |||||||
| Preferred Dividends | Common Dividends | ||||||
| Total | |||||||
| Year | Dividends | Total | Per Share | Total | Per Share | ||
| 2002 | $40,000 | ||||||
| 2003 | 18,000 | ||||||
| 2004 | 24,000 | ||||||
| 2005 | 27,000 | ||||||
| 2006 | 65,000 | ||||||
| 2007 | 54,000 | ||||||
| $0.00 | $0.00 | $0.00 | $0.00 | ||||
| ========= | ========= | ========= | ========= | ||||
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