A company was organized in January 2016 and has 20,000 shares of $10 par value, 10%, nonparticipating preferred stock outstanding and 150,000 shares of $2 par value common stock outstanding. It has declared and paid cash dividends each year as shown below. Calculate the total dividends distributed to each class of stockholder under each of the assumptions given. ??Assuming PreferredAssuming Preferred??StockStock?CashIs NoncumulativeIs Cumulative?Dividends?????DeclaredPreferredCommonPreferredCommonYearand PaidDividendDividendDividendDividend??????2016$18,000________________________________2017$36,000________________________________2018$60,000________________________________??????
What will be an ideal response?
| ? | ? | Assuming Preferred | Assuming Preferred | ||
| ? | ? | Stock | Stock | ||
| ? | ? | Is Noncumulative | Is Cumulative | ||
| ? | Cash | ? | ? | ? | ? |
| ? | Dividends | ? | ? | ? | ? |
| ? | Declared | Preferred | Common | Preferred | Common |
| Year | and Paid | Dividend | Dividend | Dividend | Dividend |
| 2016 | $18,000 | $18,000 | 0 | $18,000 | 0 |
| 2017 | $36,000 | 20,000 | $16,000 | 22,000 | $14,000 |
| 2018 | $60,000 | 20,000 | 40,000 | 20,000 | 40,000 |
Business
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