Reference no: EM132783643

Garda World Security Corporation has the following shares, taken from the equity section of its balance sheet dated December 31, 2020.

Preferred shares, $4.48 non-cumulative,

45,000 shares authorized and issued......................................................................... $2,880,000 Common shares,
80,000 shares authorized and issued......................................................................... 1,280,000 *All shares were issued during 2018
During its first three years of operations, Garda World Security Corporation declared and paid total dividends as shown in the last column of the following schedule.

Required

Problem 1. Calculate the total dividends paid in each year to the preferred and to the common shareholders.

Preferred Common Year          2018             2019            2020           Total for three years
Dividend Dividend Dividend     $ 160,000      400,000       560,000              $1,120,000

Problem 2. Calculate the dividends paid per share to both the preferred and the common shares in 2020.