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The outstanding share capital of Sheng Inc. includes 57,000 shares of $9.60 cumulative preferred and 92,000 common shares, all issued during the first year of
The outstanding share capital of Sheng Inc. includes 57,000 shares of $9.60 cumulative preferred and 92,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends:
Year | Total Dividends Declared | ||
2018 | $ | 0 | |
2019 | 575,000 | ||
2020 | 1,178,000 | ||
2021 | 575,000 | ||
Required: Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years.
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