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.) (a) Preferred, non-cumulative, and non-participating Year Paid-out Preferred 2020 $15,900 $ 2.65 2021 $32,000 $ 3 2022 $80,000 $ 3 2023 $146,000 $ 3 +A +A +A Common Assumptions 0 (b) Preferred, cumulative, and fully participating Preferred Common SA $ 2.65 0.28 $ 3.35 1.24 +A $ 2.56 +A SA 5.55 $ +A 19.55 SA $ 0.24 0.93 0.57

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.) (a) Preferred, non-cumulative, and non-participating Year Paid-out Preferred 2020 $15,900 $ 2.65 2021 $32,000 $ 3 2022 $80,000 $ 3 2023 $146,000 $ 3 +A +A +A Common Assumptions 0 (b) Preferred, cumulative, and fully participating Preferred Common SA $ 2.65 0.28 $ 3.35 1.24 +A $ 2.56 +A SA 5.55 $ +A 19.55 SA $ 0.24 0.93 0.57

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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