Sandpiper company has 10,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares a...

Sandpiper company has 10,000 shares of cumulative preferred 2% stock, $50 par and 50,000 shares a $15 par common stock. the following amounts were distributed as dividends

year 1. 20,000

year 2. 8000

year 3. 30000

preferred stock. common stock

dividends per share. dividends per share

year 1

year 2

year 3

Expert Solution

Statementshowing Computations
Paticulars	Year 1	Year 2	Year 3
Total Dividend Paid	20,000.00	8,000.00	30,000.00
Preference Dividend to be paid = 10,000502%	10,000.00	10,000.00	10,000.00
Preference Dividend Paid = Existing + arrears	10,000.00	8,000.00	12,000.00

Dividend available for common stock	10,000.00	-	18,000.00

Arrears of preference Dividend	-	2,000.00	-

preferred stock dividends per share	1.00	0.80	1.20
Common stock dividends per share	0.20	-	0.36

ekkarill92 answered 2 years ago

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