Question
Cash Dividends Kerry Company has 950 shares of $100 par value, 12% preferred stock and 9,600 shares of $10 par value common stock outstanding. The
Cash Dividends Kerry Company has 950 shares of $100 par value, 12% preferred stock and 9,600 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating. Dividends were paid in 2013. Since 2013, Kerry has declared and paid dividends as follows: 2014 $ 0 2015 12,400 2016 24,000 2017 28,600 Required: 1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2015 to 2017. If an amount is zero, enter "0".
1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2015 to 2017. If an amount is zero, enter "0".
Year | Preferred Dividends | Common Dividends |
2015 | $fill in the blank 1 | $fill in the blank 2 |
2016 | $fill in the blank 3 | $fill in the blank 4 |
2017 | $fill in the blank 5 | $fill in the blank 6 |
2. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year?
Year | Preferred Dividends | Common Dividends |
2015 | $fill in the blank 7 | $fill in the blank 8 |
2016 | $fill in the blank 9 | $fill in the blank 10 |
2017 | $fill in the blank 11 | $fill in the blank 12 |
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