Giraffe Resorts and Hospitality had 20,000 preferred shares and 40,000 common shares outstanding on January 1, 2017. Annual preferred dividend was $0.20 per share. Total dividends paid were $1,500 in 2017, $0 in 2018, $82,400 in 2019, and $13,500 in 2020. There were no dividends in arrears at the beginning of 2017. Required: Calculate the amount of dividends that would have been paid to each share class for each year in 2017-2020 under each of the following assumptions. Case I: The preferred shares are non-cumulative and non-participating Preferred Common Total 2017 2018 2019 2020 Case II: The preferred shares are cumulative but non-participating Preferred Common Total 2017 2018 2019 2020

Giraffe Resorts and Hospitality had 20,000 preferred shares and 40,000 common shares outstanding on January 1, 2017. Annual preferred dividend was $0.20 per share. Total dividends paid were $1,500 in 2017, $0 in 2018, $82,400 in 2019, and $13,500 in 2020. There were no dividends in arrears at the beginning of 2017. Required: Calculate the amount of dividends that would have been paid to each share class for each year in 2017-2020 under each of the following assumptions. Case I: The preferred shares are non-cumulative and non-participating Preferred Common Total 2017 2018 2019 2020 Case II: The preferred shares are cumulative but non-participating Preferred Common Total 2017 2018 2019 2020

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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Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50 par value, six percent, cumulative preferred stock and 90,000 shares of $10 par value common stock. Through the end of 2018, there had been no change in the number of preferred and common shares outstanding. Assume that Chauncey declared dividends of $69,000 in 2016, $0 in 2017, and $354,000 in 2018. How would I Calculate the total dividends and the dividends per share paid to each class of stock in 2016, 2017, and 2018. Round to two decimal places.
At December 31, 2017 and 2018, Funk and Noble corporation had outstanding 760 million shares of common stock and 7 million shares of 4%, 100 par value cumulative perferred stock. No dividentds were declared on either the preferred or common stock in 2017 or 2018. Net income for 2018 was 788 million. the income tax rate is 40 percent. Calculate earning per share for the year ended December 31, 2018?
Phelps, Inc. had assets of $84,556, liabilities of $18,556, and 12,778 shares of outstanding common stock at December 31, 2017. Net income for 2017 was $9,456. The company had assets of $99,361, liabilities of $22,261, 11,401 shares of outstanding common stock, and its stock was trading at a price of $10 per share at December 31, 2018. Net income for 2018 was $10,598. Required: a. Calculate EPS for 2018. b. Calculate ROE for 2018. c. Calculate the Price/Earnings Ratio for 2018. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate EPS for 2018. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) EPS
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Metlock Corporation had 2017 net income of $1,001,000. During 2017, Metlock paid a dividend of $2 per share on 43,250 shares of preferred stock. During 2017, Metlock had outstanding 295,000 shares of common stock.Compute Metlock’s 2017 earnings per share
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