The shareholders\' equity of WBL Industries includes the items shown below. The

Question

The shareholders' equity of WBL Industries includes the items shown below. The board of doctors of WBL declared cash dividends of $8 million, $20 million, and $150 million in its first three years or operation-2016, 2017, and 2018, respectively Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Explanation / Answer

1000000 2016 2017 2018 cash dividend 8000000 20000000 150000000 preffered stock 200000000 amount of dividend on preffered stock 16000000 16000000 16000000 cash dividend arrear and dividend due to preffered stock dividend paid to preffered stock holders dividend to equity share holders preferred dividend in arrear 8000000 16000000 8000000 0 8000000 8000000 20000000 24000000 20000000 0 4000000 150000000 20000000 20000000 130000000 0

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