King Ltd. provides the following information about its contributed capitals from its balance sheet for calendar 2020 and this section remained unchanged through 2022. Capital Structure (December 31, 2020) $6 preferred shares, no par value, cumulative, $ 500,000 6,000 shares authorized, 5,000 shares issued and outstanding $8 preferred shares, no par value, non-cumulative, $ 600,000 10,000 shares authorized, 6,000 shares issued and outstanding Common shares, 510,000 shares issued and outstanding $ 1,000,000 At the beginning of 2020, there were one-year dividends in-arrears. Titian reported $80,000 net income and declared no dividends in 2020. In 2021, Titian reported $150,000 net income and declared $120,000 total dividends. In 2020, Titian reported $180,000 net income and declared $120,000 total dividends. Instructions Determine the earnings available for the common shareholder for each of the three years from 2020 to 2022. Dont give me handwritten answer thank you
King Ltd. provides the following information about its contributed capitals from its
Capital Structure (December 31, 2020)
$6
6,000 shares authorized, 5,000 shares issued and outstanding
$8 preferred shares, no par value, non-cumulative, $ 600,000
10,000 shares authorized, 6,000 shares issued and outstanding
Common shares, 510,000 shares issued and outstanding $ 1,000,000
At the beginning of 2020, there were one-year dividends in-arrears. Titian reported $80,000 net income and declared no dividends in 2020.
In 2021, Titian reported $150,000 net income and declared $120,000 total dividends.
In 2020, Titian reported $180,000 net income and declared $120,000 total dividends.
Instructions
Determine the earnings available for the common shareholder for each of the three years from 2020 to 2022.
Dont give me handwritten answer thank you
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