McEwen Corporation began operations in 2018 with the following capital structure:

1.		Common shares, Class A: 8,010,000 authorized and outstanding. The Class A common shares are entitled to 10 votes per share and to receive dividends as declared by the board of directors. Total share capital for the Class A common shares at the end of the year was $16,020,000.
2.		Common shares, Class B: unlimited authorized; 990,000 issued and outstanding. Class B shares are entitled to one vote per share. The Class B shares receive dividends as declared by the board of directors equal to Class A shares. Total share capital for the Class B shares at the end of the year of $34,650,000.
3.		Preferred shares: unlimited authorized; 3,440,000 issued and outstanding. The cumulative participating preferred shares are non-voting and received a preferential dividend of $0.16 per share per year. Total share capital for the preferred shares as at the end of the year was $17,200,000.

1.McEwen Corporation did not declare any dividends in 2018 or 2019. What is the amount of dividends in arrears?

		2018		2019
Dividends in arrears at the end of year		$.		$.

2. Assume that McEwen has $10,000,000 available for dividend payments in 2020. What will be the total dividend paid to each of the preferred and Class A and B common shareholders as a class and on a per-share basis? (Round pro-rata allocation rate to 5 decimal places, e.g. 12.35764%. Round dividend per share to 3 decimal places, e.g. 15.257 and total dividend paid answers to 0 decimal places, e.g. 52,016.)

		To Preferred Shareholders		To Common, Class A Shareholders		To Common, Class B Shareholders
Total dividend paid		$_____.		$_____.		$_____
Dividend per share		$_____.		$_____		$_____

3.On average, what was the original share price for each class of shareholder?

Class A common shareholders		$____ per share
Class B common shareholders		$____ per share
Preferred shareholders		$_____ per share

4. What portion of the total available vote does each class of shareholder have? Prepare a table comparing the voting rights with the capital invested. (Round portion of votes to 2 decimal places, e.g. 10.25% and portion of capital contributed to 1 decimal place, e.g. 10.2%.)

		Preferred			Class A Common			Class B Common			Total
Number of votes available to be cast		_____			_____			_____			_____.
Portion of votes		_____%			_____%			_____%			_____%
Capital invested		_____			_____			_____			_____
Portion of capital contributed		_____%			_____%			_____%			_____%