Do not give answer in image Splish Brothers Inc. was organized on January 1, 2021. During its first year, the corporation issued 2,500 shares of $50 par valuepreferred stock and 145,000 shares of $10 par value common stock. At December 31, the company declared the following cashdividends: 2021, $5,800; 2022, $11,700; and 2023, $29,200.(a) Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 5% and noncumulative. (Do notleave any answer field blank. Enter O for amounts)Total dividendAllocation to preferred stockRemainder to common stock(b)Total dividend$Allocation to preferred stock2021Remainder to common stock $5800202158000$$202211700202262505450Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6% and cumulative. (Do not leaveany answer field blank. Enter O for amounts)$$$2023292002023625022950

A Dividend is declared by the organization to the outstanding shares held by them. The Company…

Splish Brothers Inc. was organized on January 1, 2021. During its first year, the corporation issued 2,500 shares of $50 par value preferred stock and 145,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,800; 2022, $11,700; and 2023, $29,200.

Splish Brothers Inc. was organized on January 1, 2021. During its first year, the corporation issued 2,500 shares of $50 par value preferred stock and 145,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2021, $5,800; 2022, $11,700; and 2023, $29,200.

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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