Dividends Keener Company has had 800 shares of 7%, $100 par preferred stock and 44,000 shares...

Dividends

Keener Company has had 800 shares of 7%, $100 par preferred stock and 44,000 shares of $5 stated value common stock outstanding for the last 3 years. During that period, dividends paid totaled $4,600, $27,700, and $31,800 for each year, respectively.

Required:

Compute the amount of dividends that Keener must have paid to preferred shareholders and common shareholders in each of the 3 years, given the following 3 independent assumptions:
If an amount is zero, enter "0".

3. Preferred stock is fully participating and cumulative.

Keener Company
Schedule of Dividends

	Preferred	Common	Total
Year 1	$4600	$	$4600
Year 2	$	$	$27700
Year 3	$	$	$31800

Expert Solution

ekkarill92 answered 1 month ago

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