I need help with this problem and understad how the answers cameabout. i have tried and keep getting it wrong
John Dear Co. is a heavy equipment and lawncare products manufacturer located in Illinois. John Dear ispublicly owned, and has declared the following dividends over a sixyear period:
20X1, $ 240,000; 20X2, $ 1,200,000; 20X3, $2,200,000; 20X4, $ 0; 20X5, $ 120,000; and 20X6, $ 4,200,000.During the entire period, the outstanding stock of the company wascomposed of 100,000 shares of cumulative, nonparticipating 5%, $10Par Preferred stock and 1,000,000 shares of common stock, $ 1par.
Calculate the total dividends and theper-share dividends declared on each class of stock for each of thesix years. There were no dividends in arrears on Jan. 1, 20X1.
Round to the nearest cent.
PreferredDividends Common Dividends
Year TotalDividends Total Per Share Arrears Total Per Share
20X1
20X2
20X3
20X4
20X5
20X6
I need help with this problem and understad how the answers cameabout. i have tried and keep getting it wrong
John Dear Co. is a heavy equipment and lawncare products manufacturer located in Illinois. John Dear ispublicly owned, and has declared the following dividends over a sixyear period:
20X1, $ 240,000; 20X2, $ 1,200,000; 20X3, $2,200,000; 20X4, $ 0; 20X5, $ 120,000; and 20X6, $ 4,200,000.During the entire period, the outstanding stock of the company wascomposed of 100,000 shares of cumulative, nonparticipating 5%, $10Par Preferred stock and 1,000,000 shares of common stock, $ 1par.
Calculate the total dividends and theper-share dividends declared on each class of stock for each of thesix years. There were no dividends in arrears on Jan. 1, 20X1.
Round to the nearest cent.
PreferredDividends Common Dividends
Year TotalDividends Total Per Share Arrears Total Per Share
20X1
20X2
20X3
20X4
20X5
20X6
