Identifying and Analyzing Financial Statement Effects of Dividends The statement of shareholders equity of Reliable Storage Corporation for the year ended December 31, reports the following dividends paid to shareholders ($ thousands). Distributions to equity holders Preferred shares $151,421 Common shares $977,455 The year-end balance sheet includes the following ($ thousands except share data). Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding $2,817,500 Common Shares, $0.10 par value, 650,000,000 shares authorized, 174,130,881 shares issued and outstanding $12,189 a. Use the financial statement effects template to indicate the effects of (a) the preferred dividend declaration and payments and (b) the common dividend declaration and payments. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. ($ thousands) Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets = Liabilities + Contrib. Capital + Earned Capital Revenues Expenses = Net Income (a) Preferred dividend payment Answer 151,421 Answer 0 = Answer 0 Answer 0 Answer 0 Answer 0 Answer 0 = Answer 0 Answer Preferred Stock Answer Preferred Stock Answer Preferred Stock Answer Common Stock Answer Retained Earnings Answer Retained Earnings Answer Preferred Stock (b) Common dividend payment Answer 26.35 Answer 0 = Answer 0 Answer 0 Answer 0 Answer 0 Answer 0 = Answer 0 Answer Cash Correct Mark 1.00 out of 1.00 Answer Common Stock Answer Cash Answer Preferred Stock Answer Common Stock Answer Common Stock Answer Common Stock b. Determine the dividends per share for both classes of stock. Note: Round your answers to two decimal places (for example, enter 67.49 for 67.48555). Dividends per Share Preferred shareholders: Answer 0.94 Common shareholders: Answer 0.01