Flatfish Limited reported the following items in shareholders' equity on December 31, 2020:Share capital: Preferred shares, $5 cumulative dividend, 144,000 shares issuedand outstandingShare capital: Common shares, 699,000 issued and outstandingRetained earnings2018 arrears2019 arrearsNo dividends were declared in 2018 or 2019; however, in 2020, cash dividends of $4,851.150 were declared. Calculate how muchwould be paid to each class of shares.20202018 arrears2019 arrearsPreferred2020Preferred$No dividends were declared in 2018 or 2019; however, in 2020, cash dividends of $4,851.150 were declared. Calculate how muchwould be paid to each class of shares.CommonCash dividend per share$$14,400,000Common27,960,000$22,900,000TotalSTotalAssuming that the number of common shares remained constant throughout 2020, what was the cash dividend per sharedistributed to the common shareholders? (Round answer to 2 decimal places, e.g. 4.62.)$

Dividend is the return which is paid to the shareholders for investing in the business entity and…

Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share capital: Preferred shares, $5 cumulative dividend, 144,000 shares issued and outstanding Share capital: Common shares, 699,000 issued and outstanding Retained earnings 2018 arrears No dividends were declared in 2018 or 2019, however, in 2020, cash dividends of $4,851.150 were declared. Calculate how much would be paid to each class of shares. 2019 arrears 2020 Preferred $ $14,400,000 27,960,000 Common 22,900,000 Total $

Flatfish Limited reported the following items in shareholders' equity on December 31, 2020: Share capital: Preferred shares, $5 cumulative dividend, 144,000 shares issued and outstanding Share capital: Common shares, 699,000 issued and outstanding Retained earnings 2018 arrears No dividends were declared in 2018 or 2019, however, in 2020, cash dividends of $4,851.150 were declared. Calculate how much would be paid to each class of shares. 2019 arrears 2020 Preferred $ $14,400,000 27,960,000 Common 22,900,000 Total $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.

Question

Flatfish Limited reported the following items in shareholders' equity on December 31, 2020:
Share capital: Preferred shares, $5 cumulative dividend, 144,000 shares issued
and outstanding
Share capital: Common shares, 699,000 issued and outstanding
Retained earnings
2018 arrears
2019 arrears
No dividends were declared in 2018 or 2019; however, in 2020, cash dividends of $4,851.150 were declared. Calculate how much
would be paid to each class of shares.
2020
2018 arrears
2019 arrears
Preferred
2020
Preferred
$
No dividends were declared in 2018 or 2019; however, in 2020, cash dividends of $4,851.150 were declared. Calculate how much
would be paid to each class of shares.
Common
Cash dividend per share
$
$14,400,000
Common
27,960,000
$
22,900,000
Total
S
Total
Assuming that the number of common shares remained constant throughout 2020, what was the cash dividend per share
distributed to the common shareholders? (Round answer to 2 decimal places, e.g. 4.62.)
$

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