Ritz Company had the following shares outstanding and Retalned Earnings at December 31, 2020: Common shares (500,000 outstanding shares) Preferred shares (8 percent; 21,000 outstanding shares) Retained earnings $500,000 210,090 900,000 On December 31, 2020, the board of directors Is considering the distribution of a cash dividend to the common and preferred shareholders. No dividends were declared during 2018 or 2019. Three Independent cases are assumed: Case A: The preferred shares are non-cumulative; the total amount of 2020 dividends would be $30,000. Case B: The preferred shares are cumulative; the total amount of 2020 dividends would be $30,000. Dividends were not in arrears prior to 2018. Case C: Same as Case B, except the amount is $75,000. Required: 1-a. Compute the amount of dividends, In total, payable to each class of shareholders for each case. Case A Case B Case C Preferred Common Total 1-b. Compute the amount of dividend per share, payable to each class of shareholders for each case. (Round your answers to 2 decimal places.) Case A Case B Case C Preferred Common

National Supply's shareholders' equity included the following accounts at December 31, 2023: Shareholders Equity Common stock, 5 million shares at $1 part Paid-in capital-excess of par Retained earnings Required: 1. National Supply reacquired shares of its common stock in two separate transactions and later sold shares. Prepare the entries for each of the transactions under each of two separate assumptions: the shares are (a) retired and (b) accounted for as treasury stock. February 15, 2024 Reacquired 480,000 shares at $9 per share. February 17, 2825 Reacquired 480,000 shares at $6.50 per share. November 9, 2826 Sold 335,000 shares at $8 per share (assume FIFO cost). 2. Prepare the shareholders' equity section of National Supply's balance sheet at December 31, 2026, assuming the shares are (a) retired and (b) accounted for as treasury stock. Net Income was $20 million in 2024, $22 million in 2025, and $24 million in 2026. No dividends were paid during the three-year period. Complete…

An excerpt from the financial records of Windle Inc. (Windle) at December 31, 2019, was as follows:   Preferred shares, Series A, $5, cumulative, 60,000 shares issued and outstanding $ 6,000,000 Preferred shares, Series B, $6.50, non-cumulative, 40,000 shares issued and outstanding $ 4,000,000 Common shares, 1,800,000 shares issued and outstanding $25,400,000   The following common share transactions took place in 2020: April 1: Windle issued 200,000 common August 31: Windle repurchased and cancelled 60,000 common October 31: Windle issued 100,000 common shares. Additional information: Windle’s net income for the year ended December 31, 2020, was $17,600,000. Dividends on preferred shares in arrears and for the current year were declared in full on December 15, 2020 (dividends on preferred shares were in arrears and had last been declared in full on December 15, 2018). Windle is subject to tax at a rate of 30%, and reports under Required:   Calculate Windle’s…

Manner, Inc. has 5,000 shares of 6%, $100 par value, noncumulative preferred stock and 20,000 shares of $1 par value common stock outstanding at December 31, 2018. There were no dividends declared in 2017. The board of directors declares and pays a $55,000 dividend in 2018. What is the amount of dividends received by the common stockholders in 2018? Note: show calculation. Essay Toolbar navigation I U