Abby Company has 150,000, $50 par, 5% preferred shares of stock outstanding and 250,000 shares of common stock. Abby declared and paid dividends as follows: Year 1: 350,000; Year 2: $300,000; Year 3 $600,000; Year 4: $600,000 (1) Determine the amount of dividends paid each year to each of the two classes of stock: preferred and common. ALSO (2)compute the per share dividend paid each year to each of the two classes of stock. Show the work how you came up with the answers.
Abby Company has 150,000, $50 par, 5% preferred shares of stock outstanding and 250,000 shares of common stock. Abby declared and paid dividends as follows: Year 1: 350,000; Year 2: $300,000; Year 3 $600,000; Year 4: $600,000 (1) Determine the amount of dividends paid each year to each of the two classes of stock: preferred and common. ALSO (2)compute the per share dividend paid each year to each of the two classes of stock. Show the work how you came up with the answers.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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help me and do not gie answer in handwritten
Transcribed Image Text:Abby Company has 150,000, $50 par, 5% preferred shares of stock outstanding and
250,000 shares of common stock.
Abby declared and paid dividends as follows: Year 1: 350,000; Year 2: $300,000;
Year 3 $600,000; Year 4: $600,000
(1) Determine the amount of dividends paid each year to each of the two classes of
stock: preferred and common. ALSO (2)compute the per share dividend paid each
year to each of the two classes of stock.
Show the work how you came up with the answers.
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