The shareholders' equity of Sarikas Company includes the items shown below. The board of directors of Sarikas declared cash dividends of $3.7 million, $6.0 million, and $52.8 million in each of its first three years of operation: 2022, 2023, and 2024, respectively. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 6%, $100 par, 1,000,000 shares outstanding Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. Note: Round your final answers to 2 decimal places. Year 2022 $ Preferred Common 3.70 Per share $ 0.00 Per share 2023 2024 $ 6.00 Per share $ 0.00 Per share Per share Per share
The shareholders' equity of Sarikas Company includes the items shown below. The board of directors of Sarikas declared cash dividends of $3.7 million, $6.0 million, and $52.8 million in each of its first three years of operation: 2022, 2023, and 2024, respectively. Common stock, $1 par, 50,000,000 shares outstanding Preferred stock, 6%, $100 par, 1,000,000 shares outstanding Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. Note: Round your final answers to 2 decimal places. Year 2022 $ Preferred Common 3.70 Per share $ 0.00 Per share 2023 2024 $ 6.00 Per share $ 0.00 Per share Per share Per share
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 24E
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