Zero Calories Company has 15,000 shares of cumulative preferred 1% stock, $50 par and 100,000 shares...

Zero Calories Company has 15,000 shares of cumulative preferred 1% stock, $50 par and 100,000 shares of $10 par common stock. The following amounts were distributed as dividends: 20Y1 $28,500 20Y2 6,000 20Y3 110,000 Determine the dividends per share for preferred and common stock for each year. If an answer is zero, enter '0'. Round all answers to two decimal places.

Expert Solution

Distribution of Preferred Dividend and Common Dividend

	20Y1	20Y2	20Y3

Total Amount Distributed	$28,500	$6,000	$1,10,000

To Preferred	$7,500	$6,000	$9,000
To Common	$21,000	$0	$1,01,000

TOTAL	$28,500	$6,000	$1,10,000

The Amount of Preferred Dividend = Number of preferred shares x Par Value x Dividend rate

= 15,000 Shares x $50 x 1%

= $7,500

The dividends per share for preferred and common stock for each year

Preferred Dividend Per Share

	20Y1	20Y2	20Y3

Preferred Dividend	$7,500	$6,000	$9,000
Number of share	15,000	15,000	15,000
Dividend Per Share	$0.50 per share	$0.40 per share	0.60 per share

Common Dividend Per Share

	20Y1	20Y2	20Y3

Common Dividend	$21,000	$0	$1,01,000
Number of share	100,000	100,000	100,000
Dividend Per Share	$0.21 per share	$0 per share	$1.01 per share

ekkarill92 answered 2 years ago

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