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Determine the amount of dividends that was paid each year

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Question - 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 $80,000.00

2016 $120,000.00

2017 $60,000.00

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: EM132607465

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