eBook Show Me How 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 dividene over a six-year period: 20Y1, $60,000; 20Y2, $80,000; 20Y3, $160,000; 20Y4, $160,000; 20YS, $170,000; and 20Y6, $180,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 400,000 shares of cumulative, preferre 2% stock, $10 par, and 500,000 shares of common stock, $15 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 dividen 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 Preferred Total Dividends Dividends Common Dividends Common Dividends Year Dividends Total Per Share Total Per Share 20Y1 $60,000 60,000 0.15 0 $ 0.00 20Y2 80,000 80,000 0.2 0 0.00 20Y3 160,000 160,000 20Y4 160,000 20Y5 170,000 20Y6 180,000 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to tw Check My Work 3 more Check My Work uses remaining. Ne
eBook Show Me How 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 dividene over a six-year period: 20Y1, $60,000; 20Y2, $80,000; 20Y3, $160,000; 20Y4, $160,000; 20YS, $170,000; and 20Y6, $180,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 400,000 shares of cumulative, preferre 2% stock, $10 par, and 500,000 shares of common stock, $15 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 dividen 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 Preferred Total Dividends Dividends Common Dividends Common Dividends Year Dividends Total Per Share Total Per Share 20Y1 $60,000 60,000 0.15 0 $ 0.00 20Y2 80,000 80,000 0.2 0 0.00 20Y3 160,000 160,000 20Y4 160,000 20Y5 170,000 20Y6 180,000 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to tw Check My Work 3 more Check My Work uses remaining. Ne
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 dividene
over a six-year period: 20Y1, $60,000; 20Y2, $80,000; 20Y3, $160,000; 20Y4, $160,000; 20YS, $170,000; and 20Y6, $180,000. During the
entire period ended December 31 of each year, the outstanding stock of the company was composed of 400,000 shares of cumulative, preferre
2% stock, $10 par, and 500,000 shares of common stock, $15 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 dividen
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
Preferred
Total
Dividends
Dividends
Common
Dividends
Common
Dividends
Year Dividends
Total
Per Share
Total
Per Share
20Y1
$60,000
60,000
0.15
0
$
0.00
20Y2
80,000
80,000
0.2
0
0.00
20Y3
160,000
160,000
20Y4
160,000
20Y5
170,000
20Y6
180,000
2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to tw
Check My Work 3 more Check My Work uses remaining.
Ne
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