Reference no: EM132936245
Dividends on Preferred and Common Stock
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $32,000; 20Y2, $64,000; 20Y3, $144,000; 20Y4, $176,000; 20Y5, $232,000; and 20Y6, $288,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 40,000 shares of cumulative, preferred 2% stock, $100 par, and 100,000 shares of common stock, $15 par.
Required:
Problem 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years.
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