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The shareholders' equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $8 million, $20
The shareholders' equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $8 million, $20 million, and $150 million in its first three years of operation2024, 2025, and 2026, respectively. Common stock Paid-in capital-excess of par, common Preferred stock, 8% Paid-in capital-excess of par, preferred Required: ($ in millions) $ 100 980 200 555 1. Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating. 2. Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is noncumulative and nonparticipating. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is noncumulative and nonparticipating. Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10). 2024 2025 2026 Preferred Common < Required 1 Required 2
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