The shareholders' equity of Sarikas Company includes the items shown below. The board of directors of Sarikas declared cash dividends of $4.0 million, $7.0 million, and $56.0 million in each of its first three years of operation: 2022, 2023, and 2024, 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. Note: Round your final answers to 2 decimal places. Year 2022 2023 2024 Preferred Per share Per share Per share Common Per share Per share Per share

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 19P: Anoka Company reported the following selected items in the shareholders equity section of its...
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The shareholders' equity of Sarikas Company includes the items shown below. The board of directors of Sarikas declared cash
dividends of $4.0 million, $7.0 million, and $56.0 million in each of its first three years of operation: 2022, 2023, and 2024,
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.
Note: Round your final answers to 2 decimal places.
Year Preferred
2022
2023
2024
Per share
Per share
Per share
Common
Per share
Per share
Per share
Transcribed Image Text:The shareholders' equity of Sarikas Company includes the items shown below. The board of directors of Sarikas declared cash dividends of $4.0 million, $7.0 million, and $56.0 million in each of its first three years of operation: 2022, 2023, and 2024, 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. Note: Round your final answers to 2 decimal places. Year Preferred 2022 2023 2024 Per share Per share Per share Common Per share Per share Per share
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