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Dividends Per Share Seacrest Company has 10,000 shares of cumulative preferred 3% stock, $150 The monetary...

Dividends Per Share

Seacrest Company has 10,000 shares of cumulative preferred 3% stock, $150 The monetary amount printed on a stock certificate.par and 50,000 shares of $30 par The stock outstanding when a corporation has issued only one class of stock.common stock. The following amounts were distributed as dividends:

Year 1 $90,000
Year 2 36,000
Year 3 135,000

Determine the dividends per share for A class of stock with preferential rights over common stock.preferred and The stock outstanding when a corporation has issued only one class of stock.common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.

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Answer #1

I have attached the image with detailed answer. Workings are here.

Year 1 Preference Dividend = $45000, (90000-45000),45000, is for Common Stock

Year 2 Preference Dividend = $36000,(36000-45000), -9000, is for Preferred Holders in Next year, Common stock holders get 0.

Year 3 Preference Dividend = $45000+$9000($135000-$54000)81000 is for common Stock

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