Michigan Manufacturing Inc. reported thefollowing:

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Michigan Manufacturing has paid all preferred dividends through 2016.

Requirement

Compute the total amounts of dividends to both preferred and common shareholders for 2019 and 2020 if total dividends are $70,000 in 2019 and $140,000 in 2020.

Compute the total amounts of dividends to both preferred and common for 2019 if total dividends are $70,000 in 2019.

Class of Shares

2019 Dividends

Preferred

Common

Total

$

70,000

Compute the total amounts of dividends to both preferred and common for 2020 if total dividends are $140,000 in 2020.

Class of Shares

2020 Dividends

Preferred

Common

Total

$

140,000

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Michigan Manufacturing Inc. reported the following: (Click the icon to view the data.) Michigan Manufacturing has paid all preferred dividends through 2016. Requirement Compute the total amounts of dividends to both preferred and common shareholders for 2019 and 2020 if total dividends are $70,000 in 2019 and $140,000 in 2020. Compute the total amounts of dividends to both preferred and common for 2019 if total dividends are $70,000 in 2019. Class of Shares 2019 Dividends Preferred Common 70,000 Total Compute the total amounts of dividends to both preferred and common for 2020 if total dividends are $140,000 in 2020. Class of Shares 2020 Dividends Preferred Data Table -X Common Total 140,000 Shareholders' Equity Preferred shares, cumulative, $0.05, 45,000 shares issued . . . . . . 45,000 Enter any number in the edit fields and then continue to the next question. Common shares,.9,230,000 shares issued. . . . . . . . . . . . . . . . ...... 923,000 Save for Later Print Done * pdf (2).pdf Show all X 12:01 PM Type here to search O 9 A 11/21/2020 515