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Massive Corp. is authorized to issue unlimited $0.80 no-par preferred shares and unlimited no-par common shares. There are 13,000 preferred and 39,000 common shares outstanding. In a five-year period, annual dividends paid were $2,000, $5,000, $69,000, $5,000, and $138,000, respectively.
Required:
Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00.
-Case A Preferred shares are cumulative and non-participating.
if the table for case A is too blurry
1- Partial
2- Partial
3-Arrears
Current
Total
4- Partial
5- Arrears
Current
Total
-Case B Preferred shares are non-cumulative and non-participating.
-Case C Preferred shares are non-cumulative and fully participating. Participation is based on the relative number of shares outstanding.
-Case D Preferred shares are non-cumulative and partially participating up to an additional $0.80 per share. Participation is based on relative annual total base dividends. (Round allocation percentages values to nearest whole percent.)
*Note: Please don't ask me for more information for this question, this is the entire question. I can't give you more!
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