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Calculate the total dividends paid on common shares

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In 2014, Randy Martin began operating NEK Inc., a chain of men's shirt retailers. The corporation was authorized to issue unlimited shares of no-par value common stock and unlimited shares of $9 cumulative, no par value, preferred stock. 10 000 shares of the preferred stock were issued for a total of $900 000 and 45 000 shares of common stock were issued at $40 per share. During the first three years of its existence, NEK Inc. earned a total of $776 000 and paid yearly dividends of $3 per share on the common stock, in addition to the regular dividends on the preferred stock. During 2017, however, the corporation incurred a loss of $71 000 and paid no dividends.

Question 1: Calculate the following.

  1. the total value of all the shares issued.
  2. the total dividends paid on common shares up to the end of 2017.
  3. the total dividends paid on preferred shares up to the end of 2017.
  4. the amount of the Retained Earnings at the end of 2017.
  5. the total shareholders equity at the end of 2017.

Reference no: EM132549760

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