Calculate the dividends to be declared

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Reference no: EM132794529

Co. has information as follows at December 31, 2020:

Preferred shares 1,000 shares issued $12,000 dividend rate per share of 0.40 (cumulative & fully participating)

Common shares 100,000 shares issued $138,000

last time preferred dividends were paid was in 2018, including that year's dividend.

Problem 1: On December 31, 2020, 12 Co wants to declare $10,000 of dividends in total for 2020. Calculate the dividends to be declared for 2020 to preferred versus common shareholders.

Reference no: EM132794529

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