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Compute for the dividends per share

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Question - The shareholder's equity of Gazelle Co. on December 31, 2019 shows the following balances:

Preference share, 12% P100 par P1,000,000

Ordinary share, P100 4,100,000

Subscribed Preference share 200,000

Subscription receivable-Preference 50,000

Share Premium-Ordinary 2,000,000

Retained Earnings 3,000,000

Preference share treasury shares (2,000 shares) 250,000

Ordinary share treasury shares (1,000 shares) 125,000

Dividends have not been paid for 2 years (including the current year)

Required - Assume that 80% of the retained earnings are available for distribution as cash dividend.

Compute for the dividends per share under each of the conditions with respect to preference share:

1. Noncumulative and nonparticipating.

2. Cumulative and nonparticipating.

Reference no: EM132749944

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