The shareholders' equity of MLS Enterprises includes $100 million of no par common stock and $200 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of $31 million in 2021 after paying $7 million cash dividends in both 2020 and 2019. What is the amount of dividends common shareholders will receive in 2021? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Annual Preferred Dividend: 2019 2020 2021 Total $ Par Value Preferred Stock $ 200 Total Cash Dividend Paid Answer is complete but not entirely correct. Annual Preferred Dividend 7,000,000 X 7,000,000 X 31,000,000 X 45,000,000 Dividend Rate (%) 6.0 % Paid to Preferred $ 7,000,000 X 7,000,000 X 22,000,000 X 36,000,000 $ Paid to Common 12✔ 0 0✔ 9,000,000 X 9,000,000 Dividends in Arrears at year- end 5,000,000 X 10,000,000 X
The shareholders' equity of MLS Enterprises includes $100 million of no par common stock and $200 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of $31 million in 2021 after paying $7 million cash dividends in both 2020 and 2019. What is the amount of dividends common shareholders will receive in 2021? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Annual Preferred Dividend: 2019 2020 2021 Total $ Par Value Preferred Stock $ 200 Total Cash Dividend Paid Answer is complete but not entirely correct. Annual Preferred Dividend 7,000,000 X 7,000,000 X 31,000,000 X 45,000,000 Dividend Rate (%) 6.0 % Paid to Preferred $ 7,000,000 X 7,000,000 X 22,000,000 X 36,000,000 $ Paid to Common 12✔ 0 0✔ 9,000,000 X 9,000,000 Dividends in Arrears at year- end 5,000,000 X 10,000,000 X
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 8MC: Hyde Corporations capital structure at December 31, 2018, was as follows: On July 2, 2019, Hyde...
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