Question
The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cash dividends of $2.2 million, $6.0 million,
The shareholders' equity of Crystal Company includes the items shown below. The board of directors of Crystal declared cash dividends of $2.2 million, $6.0 million, and $46.8 million in each of its first three years of operation: 2016, 2017, and 2018, respectively.
Common stock, $1 par, 50,000,000 shares outstanding
Preferred stock, 6%, $100 par, 1,000,000 shares outstanding
Required: Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is cumulative and nonparticipating. (Round final answers to 2 decimal places.)
Year | Preferred | Common |
2016 | ||
2017 | ||
2018 |
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