Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020. Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 *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. Required: Part A 1. Calculate the total dividends paid in each year to the preferred and to the common shareholders. 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2 decimal places.)
Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020. Preferred shares, $4.55 non-cumulative, 52,000 shares authorized and issued* $ 3,328,000 Common shares, 87,000 shares authorized and issued* 1,392,000 *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. Required: Part A 1. Calculate the total dividends paid in each year to the preferred and to the common shareholders. 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2 decimal places.)
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
| 52,000 shares authorized and issued* | $ | 3,328,000 | |
| Common shares, | |||
| 87,000 shares authorized and issued* | 1,392,000 | ||
*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.
Required:
Part A
1. Calculate the total dividends paid in each year to the preferred and to the common shareholders.
2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2 decimal places.)
Transcribed Image Text: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.
Required:
Part A
1. Calculate the total dividends paid in each year to the preferred and to the common shareholders.
Preferred
Common
Year
Total Dividend
Dividend
Dividend
2018
$
167,000
2019
407,000
2020
567,000
Total for three years
$
$
$ 1,141,000
2. Calculate the dividends paid per share to both the preferred and the common shares in 2020. (Round the final answers to 2
decimal places.)
Dividends Paid
per Share
Preferred shares
Common shares
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