Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 29

Dividends: Preferred and Common
A portion of the stockholders equity section from the balance sheet of Walland Corporation appears as follows:
Stockholders equity:

Assume that all the stock was issued on January 1 and that no dividends were paid during the first two years of operation.uring the third year, Walland Corporation paid total cash dividends of $736,000.
a.ompute the amount of cash dividends paid during the third year to each of the three classes of stock.
b.ompute the dividends paid per share during the third year for each of the three classes of stock.
c.hat was the average issue price of each type of preferred stock