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Determine the total dividends paid in each year

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Question - The outstanding share capital of Sheng Inc. includes 43,000 shares of $9.60 cumulative preferred and 78,000 common shares, all issued during the first year of operations. During its first four years of operations, the corporation declared and paid the following amounts in dividends:

Year Total Dividends Declared

2018 $0

2019 440,000

2020 1,058,000

2021 440,000

Required - Determine the total dividends paid in each year to each class of shareholders. Also determine the total dividends paid to each class over the four years.

Reference no: EM132977630

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