The board of directors of Builders Equipment Corporaion (BEC) declared cash dividends of $3.3 million, $7.0 million, and $53.2 mill In each of its first three years of operation: 2019, 2020, and 2021, respectively. BEC's shareholders' equity includes the items show below. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 7%, $100 par, 1,000,000 shares outstanding Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. (Round your answer to 2 decimal places. For instance, If your answer is $12 per share, write 12.00. If your answer is 32 cents per share, write 0.32). Year 2019 S 3.30 2020 S 7.00 2021 S 53.20 Preferred Common
The board of directors of Builders Equipment Corporaion (BEC) declared cash dividends of $3.3 million, $7.0 million, and $53.2 mill In each of its first three years of operation: 2019, 2020, and 2021, respectively. BEC's shareholders' equity includes the items show below. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 7%, $100 par, 1,000,000 shares outstanding Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. (Round your answer to 2 decimal places. For instance, If your answer is $12 per share, write 12.00. If your answer is 32 cents per share, write 0.32). Year 2019 S 3.30 2020 S 7.00 2021 S 53.20 Preferred Common
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The
board of directors of Builders Equipment Corporalon (BEC) declared cash dividends of $3.3 million, $7.0 million, and $53.2 million
In each of its first three years of operation: 2019, 2020, and 2021, respectively. BEC's shareholders' equity Includes the items shown
below.
Common stock, $1 par, 50,000,000 shares outstanding
Preferred stock, 7%, $100 par, 1,000,000 shares outstanding
Required:
Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is
cumulative and nonparticipating. (Round your answer to 2 decimal places. For instance, If your answer is $12 per share, write
12.00. If your answer is 32 cents per share, write 0.32).
Year Preferred Common
2019 $ 3.30
2020 $ 7.00
2021 S 53.20
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