Yosemite Bike Corp. manufactures mountain bikes and distributes them through retail outlets in California, Oregon, and Washington. Yosemite Bike has declared the following annual dividends over a six-year period ended December 31 of each year: 2011, $24,500; 2012, $11,000; 20Y3, $109,500; 2014, $90,000; 2015, $115,000; and 2016, $130,000. During the entire period, the outstanding stock of the company was composed of 25,000 shares of cumulative preferred 2% stock, $80 par, and 100,000 shares of common stock, $4 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 2011. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year Total Dividends 20Y1 $24,500 2012 2013 2014 11,000. 109,500 90,000 20Y5 115,000 20Y6 130,000 Total Per Share Total Per Share 2. Determine the average annual dividend per share for each class of stock for the six-year period. Round your answers to two decimal places. Average annual dividend for preferred stock per share
Yosemite Bike Corp. manufactures mountain bikes and distributes them through retail outlets in California, Oregon, and Washington. Yosemite Bike has declared the following annual dividends over a six-year period ended December 31 of each year: 2011, $24,500; 2012, $11,000; 20Y3, $109,500; 2014, $90,000; 2015, $115,000; and 2016, $130,000. During the entire period, the outstanding stock of the company was composed of 25,000 shares of cumulative preferred 2% stock, $80 par, and 100,000 shares of common stock, $4 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 2011. Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year Total Dividends 20Y1 $24,500 2012 2013 2014 11,000. 109,500 90,000 20Y5 115,000 20Y6 130,000 Total Per Share Total Per Share 2. Determine the average annual dividend per share for each class of stock for the six-year period. Round your answers to two decimal places. Average annual dividend for preferred stock per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Dividends on Preferred and Common Stock
Yosemite Bike Corp. manufactures mountain bikes and distributes them through retail outlets in California, Oregon, and Washington. Yosemite Bike has declared the following
annual dividends over a six-year period ended December 31 of each year: 20Y1, $24,500, 20Y2, $11,000; 20Y3, $109,500; 20Y4, $90,000; 20Y5, $115,000; and 20Y6, $130,000,
During the entire period, the outstanding stock of the company was composed of 25,000 shares of cumulative preferred 2% stock, $80 par, and 100,000 shares of common stock,
$4 par.
Required:
1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 2011.
Summarize the data in tabular form. If required, round your per share answers to two decimal places. If the amount is zero, please enter "0".
Preferred Dividends
Common Dividends
Total
Dividends
Year
20Y1 $24,500
2012
11,000
2013
109,500
2014 90,000
20Y5 115,000
2016
130,000
Total
Per Share
Total
Per Share
2. Determine the average annual dividend per share for each class of stock for the six-year period. Round your answers to two decimal places
Average annual dividend for preferred stock
per share
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