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E

Accounting

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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