Sirap Co. has 10000 shares of 6% $100 par preferred stock outstanding. The company also has 100000 shares of common stock outstanding. The company began business On January 1, 2020. The total amount of dividends paid in 2020 and 2021 were at $45000 and $100000 respectively. Part 1, how do you Calculate the total dividends each year paid to preferred and common shareholders if the preferred stock is Not cumulative ? . Part 2 The preferred stock is cumulative.

Sirap Co. has 10000 shares of 6% $100 par preferred stock outstanding. The company also has 100000 shares of common stock outstanding. The company began business On January 1, 2020. The total amount of dividends paid in 2020 and 2021 were at $45000 and $100000 respectively. Part 1, how do you Calculate the total dividends each year paid to preferred and common shareholders if the preferred stock is Not cumulative ? . Part 2 The preferred stock is cumulative.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 18E: Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares...

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Lyon Company shows the following condensed income statement information for the year ended December 31, 2019: Lyon declared dividends of 6,000 on preferred stock and 17,280 on common stock. At the beginning of 2019, 10,000 shares of common stock were outstanding. On May 1, 2019, the company issued 2,000 additional common shares, and on October 31, 2019, it issued a 20% stock dividend on its common stock. The preferred stock is not convertible. Required: 1. Compute the 2019 basic earnings per share. 2. Show the 2019 income statement disclosure of basic earnings per share. 3. Draft a related note to accompany the 2019 financial statements.
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