Exercise 13-25 L01 Solar Storm Inc. began operations on June 30, 2011, and issued 60,000 shares of $1 16 par common stock on that date. On December 31, 2011, Solar Storm declared and paid $24,200 in dividends. After a vote of the board of directors, Solar Storm issued 25,000 shares of 7% cumulative, $10 par, preferred stock on January 1, 2013. On December 31, 2013, Solar Storm declared and paid $16,500 in dividends, and on December 31, 2014, Solar Storm declared and paid $41,300 in dividends. Determine the amount of dividends to be distributed to each class of stock for each of Solar Storm's dividend payments. Exercise 13-26 L01 Preferred Stock-Cumulative and Noncumulative Anderson Company paid dividends at the end of each year as follows: 2011. $150,000; 2012. $240,000; and 2013, $560,000. Determine the amount of dividends per share paid on common and preferred stock for each year, assuming independent capital struc- tures as follows: (a) 300,000 shares of no-par common; 10,000 shares of $100 par, 9% noncumula- tive preferred. (b) 250,000 shares of no-par common; 20,000 shares of $100 par, 9% noncumula- tive preferred. (c) 250,000 shares of no-par common; 20,000 shares of $100 par, 9% cumulative preferred. (d) 250,000 shares of $1 par common: 30,000 shares of $100 par, 9% cumulative preferred. Exercise 13-25 L01 Solar Storm Inc. began operations on June 30, 2011, and issued 60,000 shares of $1 16 par common stock on that date. On December 31, 2011, Solar Storm declared and paid $24,200 in dividends. After a vote of the board of directors, Solar Storm issued 25,000 shares of 7% cumulative, $10 par, preferred stock on January 1, 2013. On December 31, 2013, Solar Storm declared and paid $16,500 in dividends, and on December 31, 2014, Solar Storm declared and paid $41,300 in dividends. Determine the amount of dividends to be distributed to each class of stock for each of Solar Storm's dividend payments. Exercise 13-26 L01 Preferred Stock-Cumulative and Noncumulative Anderson Company paid dividends at the end of each year as follows: 2011. $150,000; 2012. $240,000; and 2013, $560,000. Determine the amount of dividends per share paid on common and preferred stock for each year, assuming independent capital struc- tures as follows: (a) 300,000 shares of no-par common; 10,000 shares of $100 par, 9% noncumula- tive preferred. (b) 250,000 shares of no-par common; 20,000 shares of $100 par, 9% noncumula- tive preferred. (c) 250,000 shares of no-par common; 20,000 shares of $100 par, 9% cumulative preferred. (d) 250,000 shares of $1 par common: 30,000 shares of $100 par, 9% cumulative preferred
