Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Transcribed Image Text:Sheridan Company paid out cash dividends at the end of each year as follows:
Year
Dividends
2022
$148,000
2023
$215,000
2024
$305,000
(a)
Assume that Sheridan had 370,000 common shares and 26,000 $3, non-cumulative preferred shares. How much cash would be
paid out in 2022, 2023, and 2024 to each class of shares?
Year
$
2022
$
2023
Preferred
S
$
Common
Total
$
$
$
2024
$
$
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