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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

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