2ΟΥ1$ 36,00020Υ272,00020Υ3162,00020Υ4207,00020Y5261,00020Y6315,0002. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places.Average annual dividend for preferredper shareAverage annual dividend for commonper share3. Assuming a market price per share of $143 for the preferred stock and $16 for the common stock, determine the average annual percentage return on initial shareholders' investment, based onthe average annual dividend per share (a) for preferred stock and (b) for common stock.Round your answers to two decimal places.Preferred stockCommon stock%24%24 Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 2OY1, $36,000; 20Y2,$72,000; 20Y3, $162,000; 20Y4, $207,000; 20Y5, $261,000; and 20Y6, $315,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of30,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $10 par.Dividends on Preferred and Common StockRequired: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 at the beginning of 20Y1. Summarize thedata in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0".Common DividendsPreferred DividendsTotalTotalPer ShareTotalPer ShareYearDividends20Υ1$36,00020Y272,00020Y3162,000Accounting numeric field20Y4207,00020Y5261,00020Y6315,0002. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places.%24%24%24

Cumulative preference share: Cumulative preferred stock is a form of preferred stock having a clause…

Answered: Dividends on Preferred and Common Stock…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $28,910; fourth year, $55,380. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".
A. Overall, how much did shareholders' equity increase or decrease as a result of the two treasury share transactions? B. Overall, shareholders' equity ______ by $ ______ million.
The outstanding share capital of KTI Corporation consists of 2,950 preferred shares and 7,000 common shayes for which $280,000 was received. The preferred shares carry a dividend of $7 per share and have $100 stated value. Instructions: Assuming that the company has retained earnings of $95,000 that is to be entirely paid out in dividends and that preferred dividends were not paid during the two years preceding the current year, state how much each class of shares should receive under each of the following conditions. a. The preferred shares are cumulative and non-participating. b. The preferred shares are cumulative and participating. Do not round intermediate calculations but round answer to nearest dollar.
Lightfoot Inc., a software development firm, has stock outstanding as follows: 30,000 shares of cumulative preferred 2% stock, $25 par, and 38,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $5,700; second year, $9,600; third year, $57,820; fourth year, $110,760. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0" 1st Year 2nd Year Preferred stock (dividend per share) Common stock (dividend per share) 0.19 ✓ $ 0.36 X 100 3rd Year 100 4th Year
CNZ Co. had 1,270,000 shares outstanding at the beginning of the year—1 June 20X8. During the year, the following transactions occurred: 1 August 20X8—5,700 share options with an exercise price of $42 per share, were exercised. 1 October 20X8—A 5:1 stock split was completed. 1 February 20X9—The company repurchased 507,000 shares for $27 each. For the year ended 31 May 20X9, the company reported net earnings of $1,726,500. Required:Compute the basic EPS for the company for the year ended 31 May 20X9. (Do not round intermediate calculations and round your answer to 2 decimal places.) Basic EPS =
Pharoah Corporation has net income for the year of $423,780 and a weighted average number of common shares outstanding during the period of 100,900 shares. The company has two convertible debenture bond issues outstanding. One is a 6% issue sold at 100 (total $1 million) in a prior year and convertible into 20,100 common shares. The other is a 10% issue sold at 100 (total $500,000) on April 1 of the current year and convertible into 35,700 common shares. The tax rate is 30%. Calculate basic earnings per share and diluted earnings per share and show how they would be presented in the financial statements. (Round earnings per share answers to 2 decimal places, eg 15.25) Net income for the year Earnings per share: Basic earnings per share Diluted earnings per share eTextbook and Media List of Accounts $ $ 423700 Save for Later Last saved 1 second ago Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: unlimited Submit Anwwer P
Dividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $64,000; 20Y2, $128,000; 20Y3, $288,000; 20Y4, $352,000; 20Y5, $448,000; and 20Y6, $576,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 40,000 shares of cumulative, preferred 4% stock, $100 par, and 100,000 shares of common stock, $25 par. Required: 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 at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Total Year Dividends Total Per Share Total Per Share 20Υ1 $ 64,000 20Υ2 128,000 20Y3 288,000 20Y4 352,000 20Υ5…
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Dividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $32,000; 20Y2, $64,000; 20Y3, $152,000; 20Y4, $184,000; 20Y5, $224,000; and 20Y6, $288,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative, preferred 4% stock, $100 par, and 100,000 shares of common stock, $25 par. Required: 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 at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Year Total Dividends Total 20Y1 $ 32,000 20Y2 64,000 20Y3 152,000 20Y4 184,000 20Y5 224,000 20Y6 288,000 Common Dividends Per…
ividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $64,000; 20Y2, $128,000; 20Y3, $304,000; 20Y4, $352,000; 20Y5, $464,000; and 20Y6, $560,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 40,000 shares of cumulative, preferred 4% stock, $100 par, and 100,000 shares of common stock, $10 par. Required: 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 at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year TotalDividends Total Per Share Total Per Share 20Y1 $ 64,000 $fill in the blank 1…

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