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The shareholders' equity section of Well Services Corporation, as of the end of 2020 follows. Wells began operations in 2016 and at the time issued
The shareholders' equity section of Well Services Corporation, as of the end of 2020 follows. Wells began operations in 2016 and at the time issued 15,000 preferred shares. Preferred shares (25,000 shares authorized, 15,000 issued) cumulative, non-participating, $3 dividend 150,000 Common shares (750,000 shares authorized, 201,000 shares issued) 1,005,000 Retained earnings 481,000 Total Shareholders' equity 1,636,000 (a) Complete the following table: Year Total Dividends Paid Dividends for Preferred Dividends Paid to Preferred Dividends in Arrears 2016 o 45,000 0 (1) 2017 $50,000 90,000 (3) 40,000 2018 $99,000 (5) 85,000 (6) 2019 $34,000 45,000 (8) (9) 2020 $93,000 (10) 56,000 0 Dividends paid to Common ( (2) (4) (7) o (11)
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