Massive Corp. is authorized to issue unlimited $ nopar preferred shares and unlimited nopar common shares. There are preferred and common shares outstanding. In a fiveyear period, annual dividends paid were $ $ $ $ and $ respectively.
Required:
Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $
Case A Preferred shares are cumulative and nonparticipating.
Case B Preferred shares are noncumulative and nonparticipating.
Case C Preferred shares are noncumulative and fully participating. Participation is based on the relative number of shares outstanding.
Case D Preferred shares are noncumulative and partially participating up to an additional $ per share. Participation is based on relative annual total base dividends. Round allocation percentages values to nearest whole percent.
