The outstanding share capital of Sheng Inc. includes 52,000 shares of $9.60 non-cumulative preferred and...
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Accounting
The outstanding share capital of Sheng Inc. includes 52,000 shares of $9.60 non-cumulative preferred and 87,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends:
Year
Total Dividends Declared
2018
$
0
2019
527,000
2020
1,078,000
2021
527,000
Required: Determine the total dividends paid in each year to each class of shareholders under the assumption that the preferred shares are non-cumulative. Also determine the total dividends paid to each class over the four years. (Leave no cells blank, enter "0" where ever required.)
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