The following information was extracted from the financial records of Maverick Corporation:

Preferred stock: 15,000 shares outstanding, 10 percent, $50 par value

Common stock: 50,000 shares outstanding, $15 par value

Maverick began operations on January 1, 2006. The company has paid the following amounts in cash dividends over the past seven years:

2006 ...... $ 65,000

2007 ...... 10,000

2008 ...... 70,000

2009 ...... 50,000

2010 ....... 125,000

2011 ....... 110,000

2012 ...... 99,000

Required

Prepare sheet to contain the following schedule.

(a) Complete this schedule for each year from 2006 through 2012, assuming that the preferred stock is noncumulative and nonparticipating.
(b) Complete this schedule of each year from 2006 through 2012, assuming that the preferred stock is cumulative and nonparticipating.

Transcribed Image Text:

Dividends Total Dividends Dividends Dividend Dividend per Share (Preferred) per Share (Common) to Preferred to Year Declared Common