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Question #3 (6 marks) The current fiscal year is 2024 and McDonald Enterprises Limited's preferred shareholders have not received dividends for the past four
Question #3 (6 marks) The current fiscal year is 2024 and McDonald Enterprises Limited's preferred shareholders have not received dividends for the past four years. In 2024, the Board declared a $166,400 cash dividend. Other details, below: Contributed Capital Preferred Shares, $4, cumulative, 5,400 shares outstanding $ 175,000 Common shares, no-par value, unlimited shares authorized, 27,000 shares 210,000 issued 385,000 Total contributed capital Retained Earnings 497,000 $ 882,000 Total Equity REQUIRED: Calculate the dividends paid to both common and preferred shareholdedrs and the dividend per share for each. (6 marks)
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