Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Carol OTB Corporation reports the following shareholders' equity as of December 31, 2021: Preferred shares, $3.00.527,000 shares authorized, 127.000 shares issued and outstanding $1,651,000 Common

image text in transcribed

Carol OTB Corporation reports the following shareholders' equity as of December 31, 2021: Preferred shares, $3.00.527,000 shares authorized, 127.000 shares issued and outstanding $1,651,000 Common shares, unlimited shares authorized, 208,000 shares issued and outstanding 2,745,600 Retained earnings 3,380.000 $7.776,600 (a) Your answer has been saved. See score details after the due date. Assume the board of directors declares dividends totaling $1.679.280 to the shareholders. The preferred shares are cumulative, and no dividends were declared last year. Calculate the share each class of will (Rou 2 places, e.g. 5.75.) Preferred shares Common shares Amount per share $ $ 4.41 Attempts: 1 of 1 used (b) Assume the board of directors authorizes a 2-for-1 split on the common shares. Calculate the number of shares outstanding after the split and the average per share amount for both classes of shares. (Round average per share answers to 2 decimal places, eg. 5.75.) Number of shares outstanding after the split shares Preferred shares Common shares Average per share amount $ Save for Later Attempts: 0 of 1 used Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting A Smart Approach

Authors: Mary Carey, Cathy Knowles, Jane Towers-Clark

3rd Edition

0198745133, 978-0198745136

More Books

Students also viewed these Accounting questions