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Determine the amount of dividends

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Reference no: EM133021560

Problem - Macy Company has 9000 shares of 10% cumulative preferred stock of $100 par and 25,000 shares of $75 par common stock. The following amounts were distributed as dividends:

Year

Amount of Dividends

2015

$40,000.00

2016

$60,000.00

2017

$180,000.00

2018

$40,000.00

2019

$30,000.00

Required - Determine the amount of dividends that was paid each year (2015-2019) for the preference shareholders and ordinary shareholders.

Reference no: EM133021560

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