Kingbird Company has outstanding 2,700 shares of $100 par, 6% preferred stock and 14,300 shares of $10 par value common. The following schedule shows the amount of dividends paid out over the last 4 years. Allocate the dividends to each type of stock under assumptions (a) and (b). Express your answers in per share amounts using the format shown below. (Round the rate of participation to 4 decimal places, e.g. 1.4278%. Round answers to 2 decimal places, e.g. 6.85.) Paid- out $11,900 $ $25,800 $ $51,900 $ $69,400 $ (a) Preferred, noncumulative, and nonparticipating Preferred $ $ $ $ Common Assumptions $ $ $ $ Preferred (b) Preferred, cumulative, and fully participating $ $ $ Common

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Kingbird Company has outstanding 2,700 shares of $100 par, 6% preferred stock and 14,300 shares of $10 par value common. The
following schedule shows the amount of dividends paid out over the last 4 years.
Allocate the dividends to each type of stock under assumptions (a) and (b). Express your answers in per share amounts using the
format shown below. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 2 decimal places, e.g. 6.85.)
Paid-
out
$11,900 $
$25,800 $
$51,900 $
$69,400 $
(a)
Preferred, noncumulative,
and nonparticipating
Preferred
LA
LA
$
Common
Assumptions
LA
LA
LA
$
(b)
Preferred, cumulative,
and fully participating
Preferred
LA
LA
$
Common
Transcribed Image Text:Kingbird Company has outstanding 2,700 shares of $100 par, 6% preferred stock and 14,300 shares of $10 par value common. The following schedule shows the amount of dividends paid out over the last 4 years. Allocate the dividends to each type of stock under assumptions (a) and (b). Express your answers in per share amounts using the format shown below. (Round the rate of participation to 4 decimal places, e.g.1.4278%. Round answers to 2 decimal places, e.g. 6.85.) Paid- out $11,900 $ $25,800 $ $51,900 $ $69,400 $ (a) Preferred, noncumulative, and nonparticipating Preferred LA LA $ Common Assumptions LA LA LA $ (b) Preferred, cumulative, and fully participating Preferred LA LA $ Common
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