Oceanic Company has 20,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $5 par common stock. following amounts were distributed as dividends: 20Y1 20Y2 20Y3 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If a answer is zero, enter '0'. 20Y1 $180,000 72,000 270,000 20Y2 Preferred Stock (dividends per share) 3.60 Common Stock (dividends per share)
Oceanic Company has 20,000 shares of cumulative preferred 3% stock, $150 par and 50,000 shares of $5 par common stock. following amounts were distributed as dividends: 20Y1 20Y2 20Y3 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If a answer is zero, enter '0'. 20Y1 $180,000 72,000 270,000 20Y2 Preferred Stock (dividends per share) 3.60 Common Stock (dividends per share)
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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