Dividend Distribution Chauncey Corporation began business on June 30, 2016. At that time, it issued 20,000 shares of $50 par value, six percent, cumulative preferred stock and 90,000 shares of $10 par value common stock. Through the end of 2018, there had been no change in the number of preferred and common shares outstanding, Required a. Assume that Chauncey declared dividends of $69,000 in 2016, $0 in 2017, and $354,000 in 2018. Calculate the total dividends and the dividends per share paid to each class of stock in 2016, 2017, and 2018. Round to two decimal places. Preferred Common Preferred Common Year Stock Stock per share per share 2016 $ 60,000 $ 9,000 $ 3 $ 0.1 2017 2018 12,000 234,000 6 2.6 b. Assume that Chauncey declared dividends of $0 in 2016, $120,000 in 2017, and $186,000 in 2018. Calculate the total dividends and the dividends per share paid to each class of stock in 2016, 2017, and 2018. Round to two decimal places. Preferred Common Preferred Common Year Stock Stock per share per share 2016 $ 0 $ 0 $ 0 $ 2017 120,000 2018 60,000 126,000 3 1.4 Previous Save Answers Next