Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $48,000; 20Y2, $96,000; 20Y3, $216,000; 2014, $276,000; 20Y5, $336,000; and 20Y6, $432,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, preferred 4 % stock, $100 par, and 100,000 shares of common stock, $20 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Year 20Y1 2012 2013 20Y4 20Y5 20Y6 Total Dividends $ 48,000 96,000 216,000 276,000 336,000 432,000 Preferred Dividends Total 48,000 ✓ 96,000 ✓ 216,000 ✓ Per Share 1.6 ✔ 3.2 7.2 Common Dividends Total 0 Per Share 0 OOOO 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. Average annual dividend for preferred per share
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $48,000; 20Y2, $96,000; 20Y3, $216,000; 2014, $276,000; 20Y5, $336,000; and 20Y6, $432,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, preferred 4 % stock, $100 par, and 100,000 shares of common stock, $20 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Year 20Y1 2012 2013 20Y4 20Y5 20Y6 Total Dividends $ 48,000 96,000 216,000 276,000 336,000 432,000 Preferred Dividends Total 48,000 ✓ 96,000 ✓ 216,000 ✓ Per Share 1.6 ✔ 3.2 7.2 Common Dividends Total 0 Per Share 0 OOOO 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. Average annual dividend for preferred per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a
six-year period: 20Y1, $48,000; 20Y2, $96,000; 20Y3, $216,000; 2014, $276,000; 20Y5, $336,000; and 20Y6, $432,000. During the entire period ended
December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, preferred 4 % stock, $100 par, and
100,000 shares of common stock, $20 par.
Required:
1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears
at the beginning of 20Y1. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero,
please enter "0".
Year
20Y1
2012
2013
20Y4
20Y5
20Y6
Total
Dividends
$ 48,000
96,000
216,000
276,000
336,000
432,000
Preferred Dividends
Total
48,000 ✓
96,000 ✓
216,000 ✓
Per Share
1.6 ✔
3.2
7.2
Common Dividends
Total
0
Per Share
0
OOOO
2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places.
Average annual dividend for preferred
per share
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