Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ter 13 Assignment ecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a

ter 13 Assignment ecan 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, $20,000; Year 2, 60,000; Year 3, $95,000; Year 4, $115,000, Year 5, $140,000; and Year 6, $180,000. During the entire period ending December 31 of each year, the outstanding stock of the company was compos of 25,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $15 par. Required: Year 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0". Preferred Dividends Common Dividends Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total Dividends $ 20,000 60,000 95,000 115,000 140,000 180,000 eBook Total 20,000 60,000 0000 Per Share 2.9 X Show Me How per share per share Total 0 0 1177 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places. Average annual dividend for preferred Average annual dividend for common Per Share
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Sean Theatre Inc. owns and operates move theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a sux-year peniod: Year 1 , 520,000 , Year 2 ; 50,000 ; Year 3,$95,000; Year 4,$115,000; Year 5,$140,000; and Year 6,$180,000. During the entire penod ending December 31 of each year, the outetanding stock of the campary was compon 25,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $15 par. tequired: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arnars at the beginning of Year 1.50 inmarize the ista in tabular form. If required, round your answers to two decinal ploces. If the amount is zero, please enter "0", Average annual dividend for preferred Aversge annual dividend for commen per share per share 3. Assuming a market price per share of $147 for the preferred stock and $19 for the common stock, determine the average annual percentage return on initial shareholders' investment, based on the average annual dividend per share for preferred stock and for common stock. Round your answers to two decimal places. Preferred stock Common stock 13 Assignment 2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places, Average annual dividend for preferred Average annual dividend for common 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 , $20,000; Year 2, $60,000; Year 3,$95,000; Year 4,$115,000; Year 5,$140,000; and Year 6,$180,000. During the entire period ending December 31 of each year, the outstanding stock of the company was composed of 25,000 shares of cumulative, 2% preferred stock, $100 par, and 100,000 shares of common stock, $15 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter " 0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions