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People Window Help 0) 0%G) Frl Dec 15 3:21 PM v2.cengagenow.com/lirn/takeAssignment/printUntakenAssignment.dofassignmentid 698016 engageNowv21 Online teaching and learning resource from Cengage Leaming Show Me How Dividends on Preferred and Common Stock Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six year perod: Year1 m 00"tar· 640 Year 3, $152,000: Year 4, $176,000; Year 5, $232,000; and Year 6, $288,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 20,000 shares of cumulative preferred 4%, stock, s 100 per, and 100,000 shares of common stock, $5 par. : Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the sx years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0 Common Dividends Total Year Total Total Per Share 32,000 64,000 152,000 76,000 232,000 288,000 Year 1 Year 2 Year 3 Year 5 Year 6 round your answers to two decimal places 2. Determine the average annual dividend per share for each class of stock for the six-year period. Ir

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1 Year Total dividends Preferred dividend Common dividends Total per share Total(earning remaning after preferred) per share Dividend preferred Dividend paid Pending dividend Year 1 32000 32000 1.6 80000 32000 48000 Year 2 64000 64000 3.2 80000 64000 16000 Year 3 152000 144000 7.2 8000 0.08 80000 144000 0 Year 4 176000 80000 4 96000 0.96 80000 Year 5 232000 80000 4 152000 1.52 80000 Year 6 288000 80000 4 208000 2.08 80000 2 Average dividend preferred (1.6+3.2+7.2+4+4+4)/6 4 per share Average dividend common (.08+.96+1.52+2.08)/6 0.773333 per share 3 Preferred stock 4/310 1.29% common stock .7733/9 8.59%

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