Flint Corp. has 5,000 preferred shares outstanding ($2.00 dividend), which were issued for $150,000, and 30,000 common shares, which were issued for $520,000.
The following schedule shows the amount of dividends paid out over the past four years. Allocate the dividends to each type of share under assumptions (a) and (b). Express your answers in per-share amounts and using the format that is shown. (Round intermediate calculations to 5 decimal places, e.g. 0.15647 and final answers to 2 decimal places, e.g. 52.75. Do not leave any answer field blank. Enter 0 for amounts.)
(a)
Preferred, non-cumulative, and non-participating
Assumptions
(b)
Preferred, cumulati and fully participat
Year
Paid-out
Preferred
Common
Preferred
Common
2020
$8,000
$
8000
$
0
$
8000
$
2021
$24,000
$
10000
$
14000
$
2
$
2022
$60,000
$
10000
$
50000
$
2
$
2023
$126,000
$
10000
$
116000
$
2
$
3.31
Flint Corp. has 5,000 preferred shares outstanding ($2.00 dividend), which were issued for $150,000, and 30,000 common shares, which were issued for $520,000.
The following schedule shows the amount of dividends paid out over the past four years. Allocate the dividends to each type of share under assumptions (a) and (b). Express your answers in per-share amounts and using the format that is shown. (Round intermediate calculations to 5 decimal places, e.g. 0.15647 and final answers to 2 decimal places, e.g. 52.75. Do not leave any answer field blank. Enter 0 for amounts.)
(a)
Preferred, non-cumulative, and non-participating
Preferred
Common
$
8000
$
0
$
10000
$
14000
$
Assumptions
(b)
Preferred, cumulative, and fully participating
Preferred
Common
8000
$
0
$
2
$
10000
$
50000
$
10000
$
116000
$
2
$
3.31