Reference no: EM132663239
Chicago Company reported the following information at the end of the current year:
Common stock ( $5 par value; 45,000 shares outstanding) $225,000
Preferred stock, 108 ( $15 par value; 9,200 shares outstanding) 138,000
Retained earnings 287,000
The board of directors is considering the distribution of a cash dividend to the two groups of stockholders. No dividends were declared during the previous two years. Assume the three cases below are independent of each other.
Case A: The preferred stock is noncumulative; the total amount of all dividends is $37,000.
Case B: The preferred stock is cumulative; the total amount of all dividends is $41,400.
Case C: The preferred stock is cumulative; the total amount of all dividends is $91,200
Required:
Problem 1. Compute the amount of dividends, in total and per share, that would be payable to each class of stockholders for each case. (Round "Dividends per Share" to 2 decimal places.)
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