Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Horticultural Products Inc. reported $822,044 profit in 2020 and declared preferred dividends of 573,100. The following changes in common shares outstanding occurred during the year

image text in transcribed
image text in transcribed
Horticultural Products Inc. reported $822,044 profit in 2020 and declared preferred dividends of 573,100. The following changes in common shares outstanding occurred during the year Jan. 1 66,000 common shares were outstanding Mar. 1 Declared and issued a 3e common share dividend. Aug: 1 Sold 20,000 common shares. Nov. 1 Sold 40,000 common shares. Calculate the weighted average number of common shares outstanding during the year and earnings per share. (Round the Earning per share" answer to 2 decimal places.) 97.500 Weighted average outstanding shares Earnings per share The outstanding share capital of Sheng inc. Includes 53,000 shares of $960 cumulative preferred and 38.000 common shares al Issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts ir dividende TH 5 0 2019 2020 20 1,098,00 536,000 Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years, 2018 Total Dividende 2019 2020 536.000 s 4816005 $ Preferred Common Total 2021 Total 508.800 $ 1.526.400 5 508 800 os of $ $ 536.000 5 481 600 5

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

Active Auditing A Practical Guide To Lean And Agile Auditing

Authors: Prescott Coleman, Sandy Kasahara

1st Edition

1092839305, 978-1092839303

More Books

Students also viewed these Accounting questions