Homework answers / question archive / Cannon Company has the following equity section: Equity Contributed Capital: Preferred shares, $4, cumulative, 10,000 shares outstanding $275,000 Common shares, no-par value, unlimited shares authorized, 30,000 shares issued and outstanding 245

Cannon Company has the following equity section: Equity Contributed Capital: Preferred shares, $4, cumulative, 10,000 shares outstanding $275,000 Common shares, no-par value, unlimited shares authorized, 30,000 shares issued and outstanding 245

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Cannon Company has the following equity section: Equity Contributed Capital: Preferred shares, $4, cumulative, 10,000 shares outstanding $275,000 Common shares, no-par value, unlimited shares authorized, 30,000 shares issued and outstanding 245.000 Total contributed capital $520,000 Retained earnings 250.000 Total equity $770,000 Dividends were not paid to the preferred shareholders for the past two years. In the current year the Board of Directors declared a $132,000 cash dividend. REQUIRED: Determine the total dividends paid to each class and the dividend per share to both common and preferred shareholders.