The Sears Company has equity in the form of common and preferred stock. Sears has...
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The Sears Company has equity in the form of common and preferred stock. Sears has 10,000 outstanding shares of $100 par value cumulative preferred stock with a stated dividend percentage of 5%. Sears also has 100,000 shares of common stock outstanding. The net income of Sears for the years 2013-2017 is given. For each year, find the amount of the preferred stock dividend (if any), the dividends in arrears (if any), and the earnings per common share (if any).
2013: $80,000 net income
2014: $10,000 net income
2015: $120,000 net income
2016: $0 net income
2017: $60,000 net income
YEAR Preferred Divided in current year Prefereed Divided in arrears (end of year) Earning per common share
