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Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: Year 1, $40,000; Year 2, $120,000; Year 3, $190,000; Year 4, $230,000; Year 5, $290,000; and Year 6, $360,000. During the entire period ending December 31 of each year, theoutstanding stockof the company was composed of 25,000 shares of cumulative, 4% preferred stock, $100par, and 100,000 shares of common stock, $20 par.
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