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E
E. MacGill Inc. paid out cash dividends at the end of each year as follows:
| Year | Dividends | |
| 2018 | $630,000 | |
| 2019 | $577,000 | |
| 2020 | $715,000 |
Assume that MacGill had issued 109,000 common shares and 26,000, 9%, non-cumulative preferred shares with a share capital of $1,560,000. How much cash would be paid out in 2018, 2019, and 2020 as dividends to each class of shares?
| Year | Preferred | Common | Total | |||
| 2018 | $ | $ | $ | |||
| 2019 | $ | $ | $ | |||
| 2020 | $ | $ | $ |
Assume that MacGill had issued 54,000 common shares with share capital of $5,940,000, and 21,000, 8% cumulative, preferred shares that were two years in arrears as at January 1, 2018, with a share capital of $2,625,000. How much cash would be paid out in 2018, 2019, and 2020 as dividends to each class of shares?
| Year | Preferred | Common | Total | |||
| 2018 | $ | $ | $ | |||
| 2019 | $ | $ | $ | |||
| 2020 | $ | $ | $ |
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