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Ayme Inc. had the following share capital outstanding on January 1, 2022: Class A common shares, unlimited authorized, 250,000 issued Class B preferred shares,
Ayme Inc. had the following share capital outstanding on January 1, 2022: Class A common shares, unlimited authorized, 250,000 issued Class B preferred shares, $100 par value, $3 dividend, 100,000 authorized, 50,000 issued $8,000,000 5,000,000 At the end of 2022, the company declared total dividends of $1,200,000. No dividends had been paid in either 2020 or 2021. Required: Determine the amount of dividends paid to each class of share under each of the following independent conditions: a. The Class B preferred shares are non-cumulative and non-participating. b. The Class B preferred shares are cumulative and non-participating. c. The Class B preferred shares are cumulative and fully participating.
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