Solution-Calculate the dividends paid and dividends per

Calculate the dividends paid and dividends per share

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Reference no: EM13538846

Myers Inc. has stock outstanding as follows: 20,000 shares of $4.00 cumulative, nonparticipating preferred stock of $100 par, and 60,000 shares of $20 par common stock. During its first five years of operations, the following amounts were distributed as dividends: first year, none; second year, $30,000; third year, $150,000; fourth year, $260,000; fifth year, $140,000.

Required:

Calculate the dividends paid and dividends per share on each class of stock.

Reference no: EM13538846

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Calculate the dividends paid and dividends per share

Reference no: EM13538846

Reference no: EM13538846

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