Determine the dollar amount of dividends to be paid

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Reference no: EM133378849

Question: Shareholders' equity of Trotter Industries includes the items shown below. The board of directors of Trotter declared cash dividends of $9M in 2019, $18M in 2020 and $60M in 2021-its first three years of operations.

Common Stock $100M

Pd-in capital-excess of par, common 980M

Preferred Stock 8% cumulative, nonparticipating 200M

Pd-in capital-excess of par, preferred 555M

Determine the dollar amount of dividends to be paid to preferred shareholders and to common shareholders in each of the three years.

Reference no: EM133378849

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