Determine and calculate the amount of dividends

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Reference no: EM132476614

Massive Corp. is authorized to issue unlimited $0.60 no-par preferred shares and unlimited no-par common shares. There are 16,000 preferred and 48,000 common shares outstanding. In a five-year period, annual dividends paid were $3,000, $3,000, $85,000, $4,000, and $170,000, respectively.

1		Total Paid Preferred Common
1	Current	°. $ 3,000 $ 3,000		$ 0
2	Current	$ 3,000r $ 3,000		$
3	Current		¦ $ 9,600	$ 0
	Matching		$ 0	¦ 48,000
	Balance
	Total	$ 57,600	$ 9,600 $ 48,000
4	Current	^b $ 4,000r	$ 4,000	r $ 01
5	Current		¦ $ 9,600	$ 0
	Matching		°. $ 0	48,000
	Balance
	Total	$ 57,600	$ 9,600 $ 48,000

Required:

Question 1: Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00.

Reference no: EM132476614

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