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Category > Accounting Posted 19 Aug 2017 My Price 13.00

Yosemite Bike Corp.

PR 11-1B  Dividends on preferred and common stock                                       ObJ.  2

Yosemite Bike Corp. manufactures mountain bikes and distributes them through retail outlets in California, Oregon, and Washington. Yosemite Bike Corp. has declared the following annual dividends over a six-year period ended December 31 of each year: 2011, $24,000; 2012, $10,000; 2013, $126,000; 2014, $100,000; 2015, $125,000; and   2016,

$125,000. During the entire period, the outstanding stock of the company was com- posed of 25,000 shares of cumulative preferred 2% stock, $90 par, and 100,000 shares of common stock, $4 par.

Instructions

1.     Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears on January 1, 2011. Summarize the data in tabular form, using the following column headings:

 

 

 

 

Total

  Preferred Dividends                    Common Dividends     

 

Year

Dividends

Total

Per Share

Total

Per Share

2011

$  24,000

 

 

 

 

2012

10,000

 

 

 

 

2013

126,000

 

 

 

 

2014

100,000

 

 

 

 

2015

125,000

 

 

 

 

2016

125,000

 

 

 

 

(Continued )

 

 

2.     Determine the average annual dividend per share for each class of stock for the six- year period.

3.     Assuming a market price of $100 for the preferred stock and $5 for the common stock, calculate the average annual percentage return on initial shareholders’  investment, based on the average annual dividend per share (a) for preferred stock and (b) for common stock.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 10:08 PM My Price 13.00

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