Question
Flatfish Limited reported the following items in shareholders’ equity on December 31, 2020: Share capital: Preferred...
Flatfish Limited reported the following items in shareholders’ equity on December 31, 2020:
|
Share capital: Preferred shares, $5 cumulative dividend, 162,000
shares issued |
$16,200,000 | |
|
Share capital: Common shares, 708,000 issued and outstanding |
28,320,000 | |
|
Retained earnings |
27,480,000 |
A) No dividends were declared in 2018 or 2019; however, in 2020, cash dividends of $5,226,600 were declared. Calculate how much would be paid to each class of shares.
| Preferred | Common | Total | ||||
|---|---|---|---|---|---|---|
|
2018 arrears |
||||||
|
2019 arrears |
||||||
|
2020 |
||||||
| $Enter a total amount. | $Enter a total amount. | $Enter a total amount. |
B) Assuming that the number of common shares remained constant throughout 2020, what was the cash dividend per share distributed to the common shareholders? (Round answer to 2 decimal places, e.g. 4.62.)
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