Exercise 8-13 (Algo) Preferred stock-calculate dividend amounts LO 8-2 Calculate the annual cash dividends required to be paid for each of the following preferred stock issues Required: a. $3.50 cumulative preferred, no par value: 240,000 shares authorized, 123,000 shares issued. (The treasury stock ception of the stockholders equity section of the balance sheet indicates that 41,053 shares of this preferred stock Issue are owned by the company) Note: Round your answer to 2 decimal places. b. 4%, $40 par value preferred, 229,000 shares authorized. 169,000 shares Issued, and 72,726 shares outstanding Note: Round your answer to 2 decimal places. c. 11.8% cumulative preferred, $120 stated value, $130 liquidating value; 64,000 shares authorized, 45,000 shares issued, 22.000 shares outstanding. a. Annual dividends b. Annual dividends Annual dividends
Exercise 8-13 (Algo) Preferred stock-calculate dividend amounts LO 8-2 Calculate the annual cash dividends required to be paid for each of the following preferred stock issues Required: a. $3.50 cumulative preferred, no par value: 240,000 shares authorized, 123,000 shares issued. (The treasury stock ception of the stockholders equity section of the balance sheet indicates that 41,053 shares of this preferred stock Issue are owned by the company) Note: Round your answer to 2 decimal places. b. 4%, $40 par value preferred, 229,000 shares authorized. 169,000 shares Issued, and 72,726 shares outstanding Note: Round your answer to 2 decimal places. c. 11.8% cumulative preferred, $120 stated value, $130 liquidating value; 64,000 shares authorized, 45,000 shares issued, 22.000 shares outstanding. a. Annual dividends b. Annual dividends Annual dividends
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Exercise 8-13 (Algo) Preferred stock-calculate dividend amounts LO 8-2
Calculate the annual cash dividends required to be paid for each of the following preferred stock issues
Required:
a. $3.50 cumulative preferred, no par value: 240,000 shares authorized, 123,000 shares issued. (The treasury stock ception of the
stockholders equity section of the balance sheet indicates that 41,053 shares of this preferred stock Issue are owned by the
company)
Note: Round your answer to 2 decimal places.
b. 4%, $40 par value preferred, 229,000 shares authorized. 169,000 shares Issued, and 72,726 shares outstanding
Note: Round your answer to 2 decimal places.
c. 11.8% cumulative preferred, $120 stated value, $130 liquidating value; 64,000 shares authorized, 45,000 shares issued, 22.000
shares outstanding.
a. Annual dividends
b. Annual dividends
Annual dividends
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