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Book rences Massive Corp. is authorized to issue unlimited $0.90 no-par preferred shares and unlimited no-par common shares. There are 15,000 preferred and 45,000
Book rences Massive Corp. is authorized to issue unlimited $0.90 no-par preferred shares and unlimited no-par common shares. There are 15,000 preferred and 45,000 common shares outstanding. In a five-year period, annual dividends paid were $1,000, $4,000, $67,000, $5,000, and $134,000, respectively. Required: Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00. Case A Preferred shares are cumulative and non-participating Year Total Paid Preferred Common 1 Partial 2 Partial 3 Arrears Current Total 4 Partial 5 Arrears
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