Question 5 Queen's Carpets Ltd

Question 5 Queen's Carpets Ltd. has the following shares outstanding since its initial share offering: 50,000 shares of $2.00 cumulative preferred shares 50,000 common shares issued at $15 each The board of directors has declared the following dividends: 2016 none 2017 $50,000 2018 $75,000 2019 $150,000 2020 $300,000 Prepare a table indicating the split of the declared dividends between the common shareholders and the preferred shareholders for each year. (6 marks) Total Declared Total Common Total Preferred Year 2016 2017 2018 2019 2020