Massive Corp. is authorized to issue unlimited $0.60 no-par preferred shares and unlimited no-par common shares.
There are 16,000 preferred and 48,000 common shares outstanding. In a five-year period, annual dividends paid were $3,000, $3,000, $85,000, $4,000, and $170,000, respectively.
Calculate the amount of dividends that would be paid to each share class for each year under the following separate cases. Where applicable, the matching dividend per common share is $1.00.
Case C Preferred shares are non-cumulative and fully participating. Participation is based on the relative number of shares outstanding.
- I need to figure out year 3 and 5 for preferred and common