Kangaroo Media Inc. has issued and outstanding a total of 40,000 shares of $7.20 preferred shares and 120,000 of common shares. The company began operations and issued both classes of shares on January 1, 2019.

Required

1. Calculate the total dividends to be paid to each group of shareholders in each year by completing the following chart. Assume that the preferred shares are cumulative.

2. Calculate the total dividends to be paid to each group of shareholders in each year by completing the following chart. Assume that the preferred shares are non cumulative.

Transcribed Image Text:

Dividends Declared and Pald Common Preferred Dividends Year Dividends $360,000 2019 2020 60,000 2021 2022 150,000 900,000 Dividends Declared and Paid Common Preferred Year Dividends Dividends $360,000 2019 2020 2021 60,000 150,000 2022 900,000