Dividends Per Share Seacrest Company has 20,000 shares of cumulative preferred 1% stock, $100 par and...

Dividends Per Share

Seacrest Company has 20,000 shares of cumulative preferred 1% stock, $100 par and 50,000 shares of $5 par common stock. The following amounts were distributed as dividends:

20Y1$40,000

20Y28,000

20Y360,000

Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.

Preferred Stock
(dividends per share)Common Stock
(dividends per share)

20Y1$$

20Y2$$

20Y3$$

Expert Solution

Annual Preferred Dividend = 20,000100 1% = 20,000

Year		Total	Preferred	Arrears	Common
		Dividend	Dividend	if any	dividend
1		40000	20000	0	20000	(40000-20000)
2		28000	20000	0	8000	(28000-20000)
3		360000	20000	0	340000	(360000-20000)

Preferred Dividend per share
Year	Pref. Div. /	Number of Pref. Stock =	Pref. Dividend per share
1	20000 /		20000 =			1	per share
2	20000 /		20000 =			1	per share
3	20000 /		20000 =			1	per share

Common Dividend per share
Year	Common Dividend /	Number of Common Stock =	Common. Dividend per share
1	20000 /		50000 =			0.4	per share
2	8000 /		50000 =			0.16	per share
3	340000 /		50000 =			6.8	per share


Year		Pref. Dividend	Common Dividend
		per share		per share
1		1		0.4
2		1		0.16
3		1		6.8

ekkarill92 answered 2 years ago

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