The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cash dividends of $4.0 million, $7.0 million, and $56.0 million in each of its first three years of operation: 2019, 2020, and 2021, respectively. 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. (Enter your answers in millions rounded to 2 decimal places.) Year Preferred Common 2019 2020 2021

The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cash dividends of $4.0 million, $7.0 million, and $56.0 million in each of its first three years of operation: 2019, 2020, and 2021, respectively. 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. (Enter your answers in millions rounded to 2 decimal places.) Year Preferred Common 2019 2020 2021

Name: The shareholders' equity of Crystal Company includes the items shown
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Description: The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cashdividends of $4.0 million, $7.0 million, and $56.0 million in each of its first three years of operation: 2019, 2020, and 2021

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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