Question
What is correct answer for my errors? Pronghorn Corp. has 6,000 preferred shares outstanding ($3.00 dividend), which were issued for $180,000, and 50,000 common shares,
What is correct answer for my errors?
Pronghorn Corp. has 6,000 preferred shares outstanding ($3.00 dividend), which were issued for $180,000, and 50,000 common shares, which were issued for $520,000. The following schedule shows the amount of dividends paid out over the past four years. Allocate the dividends to each type of share under assumptions (a) and (b). Express your answers in per-share amounts and using the format that is shown. (Round intermediate calculations to 5 decimal places, e.g. 0.15647 and final answers to 2 decimal places, e.g. 52.75. Do not leave any answer field blank. Enter O for amounts.) Assumptions (a) Preferred, non-cumulative, and non-participating Year 2020 2021 2022 2023 Paid-out $15,900 $32,000 $80,000 $146,000 Preferred 2.65 3 3 3 Common (b) Preferred, cumulative, and fully participating Preferred 2.65 3.35 Common 0.24 0.28 1.24 2.56
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