Lone Star Theatre Ltd. owns and operates movie theatres throughout central Canada. Lone Star Theatre has declared the following annual dividends over a six-year period ended December 31 of each year: 2010, $7,500; 2011, $9,000; 2012, $30,000; 2013, $30,000; 2014, $40,000; and 2015, $48,500. During the entire period, the outstanding shares of the company comprised 10,000 $1 preferred shares and 50,000 common shares.
Instructions
Determine the total dividends declared on each class of share for each of the six years. No dividends were in arrears on January 1, 2010. Summarize the data in tabular form, using the following columnar headings:

Transcribed Image Text:

Total Preferred Dividends Common Dividends Year Dividends $ 7,500 9.000 2010 2011 2012 2013 30.000 30,000 40.000 48,500 2014 2015