Dividends
Keener Company has had 800 shares of 8%, $100 par preferredstock and 44,000 shares of $5 stated value common stock outstandingfor the last 3 years. During that period, dividends paid totaled$5,400, $31,000, and $35,400 for each year, respectively.
Required:
Compute the amount of dividends that Keener must have paid topreferred shareholders and common shareholders in each of the 3years, given the following 3 independent assumptions:
If an amount is zero, enter "0".
1. Preferred stock is nonparticipating and noncumulative.
| Keener Company |
| Schedule of Dividends |
|
| Preferred | Common | Total |
| Year 1 | $ | $ | $ |
| Year 2 | $ | $ | $ |
| Year 3 | $ | $ | $ |
2. Preferred stock is nonparticipating and cumulative.
| Keener Company |
| Schedule of Dividends |
|
| Preferred | Common | Total |
| Year 1 | $ | $ | $ |
| Year 2 | $ | $ | $ |
| Year 3 | $ | $ | $ |
3. Preferred stock is fully participating and cumulative.
| Keener Company |
| Schedule of Dividends |
|
| Preferred | Common | Total |
| Year 1 | $ | $ | $ |
| Year 2 | $ | $ | $ |
| Year 3 | $ | $ | $ |
