Sweetwater Company pays regular dividends to shareholders. During the third quarter of 2019, Sweetwater wants to issue a $1.50 per share dividend. Using the transactions shown below determine the following (see attachment):

1. The total amount that Sweetwater will pay in total dividends in order to pay $1.50 per share.

2. The total amount of dividends to be distributed during the year. Assume no equity transactions occurred after June 30th.

Please show steps.

14 15 16 17 2019 Jan-1 shares outstanding, 800,000; $2 par (1,500,000 authorized). Feb-15 Issued 50,000 new shares at $10.50 Mar-31 Paid quarterly dividends of $1.50 per share converted $1,000,000 of $1,000 bonds May-12 to common stock at the rate of 100 shares of stock per $1000 bond Jun-15 Issued an 11% stock dividend Jun-30 Paid quarterly dividends of $1.50 per share 18 19 20 21 22 (1) Calculate the number of shares outstanding 23 24 25 26 27 28 Calculate the amount of dividends to be paid in the 3rd quarter 29 30 31 32 33 34 35 Calculate the total amount of dividends to be distributed during 2019. 36 (2) 37