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Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020. Preferred shares, $4.38 non-cumulative, 35,000 shares authorized and issued* Common shares, 70,000 shares authorized and issued* $2,240,000 1,120,000 *All shares were issued during 2018. During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule.

Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020. Preferred shares, $4.38 non-cumulative, 35,000 shares authorized and issued* Common shares, 70,000 shares authorized and issued* $2,240,000 1,120,000 *All shares were issued during 2018. During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule.

FINANCIAL ACCOUNTING
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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Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020. Preferred shares, $4.38 non-cumulative, 35,000 shares authorized and issued* Common shares, 70,000 shares authorized and issued* $2,240,000 1,120,000 *All shares were issued during 2018. During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule.
Transcribed Image Text:Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020. Preferred shares, $4.38 non-cumulative, 35,000 shares authorized and issued* Common shares, 70,000 shares authorized and issued* $2,240,000 1,120,000 *All shares were issued during 2018. During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule.
Part B 1. Calculate the total dividends paid in each year to the preferred shares and to the common shareholders assuming preferred shares are cumulative. Year 2018 2019 2020 Total for three years Preferred Dividend Preferred shares Common shares Common Dividend Dividends Paid per Share Total Dividend $ $ 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020 assuming preferred shares are cumulative. (Round the final answers to 2 decimal places.) 150,000 390,000 550,000 1,090,000
Transcribed Image Text:Part B 1. Calculate the total dividends paid in each year to the preferred shares and to the common shareholders assuming preferred shares are cumulative. Year 2018 2019 2020 Total for three years Preferred Dividend Preferred shares Common shares Common Dividend Dividends Paid per Share Total Dividend $ $ 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020 assuming preferred shares are cumulative. (Round the final answers to 2 decimal places.) 150,000 390,000 550,000 1,090,000
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