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stiv31 [10]
3 years ago
13

ecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annu

al dividends over a six-year period: 20Y1, $30,000; 20Y2, $60,000; 20Y3, $143,000; 20Y4, $173,000; 20Y5, $218,000; and 20Y6, $270,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 25,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $25 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 20Y1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0".
Business
1 answer:
zepelin [54]3 years ago
7 0

Answer:

Find the attached dividend analysis spreadsheet for Theater Inc.

Explanation:

In analyzing the dividends in the respective years, I first calculated yearly preferred dividends which is $75,000 i.e 25,000*$100*3%

In any year where total dividends declared and paid fell short of $75,000,the entire amount is given as preferred dividends with balance carried over to future years.

Download xlsx
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