question 8 attached in ss below thanks fro helpaprpeciate it1i4jy14jhi14i4 Alloy Garde Corporation has 90,000 shares of $1.80 preferred stock outstanding in addition to its common stock. The $1.80 designation means that the preferred stockholders receive an annual cash dividend of $1.80 per share.In 2021, Alloy Garde declares an annual dividend of $500,000. The allocation to preferred and common stockholders is:(Click the icon to view the data.)Read the requirements.1. How much in dividends must Alloy Garde declare each year before the common stockholders receive any cash dividends for the year?Dividends the company must declare each year before the common stockholders receivable any cash dividends =Data tablePreferred dividend (90,000 shares * 1.80 per share)Common dividend (remainder: $500,000 - $162,000)Total dividendPrintDone$ 162,000338,000$ 500,000XRequirementsAnswer these questions about Alloy Garde's cash dividends.1. How much in dividends must Alloy Garde declare each year before the common stockholders receive anycash dividends for the year?2. Suppose Alloy Garde declares cash dividends of $675,000 for 2021. How much of the dividends goes topreferred shareholders? How much goes to common shareholders?3. Is Alloy Garde's preferred stock cumulative or noncumulative? How can you tell?4. Alloy Garde passed the preferred dividend in 2020 and 2021. Then in 2022, Alloy Garde declares cashdividends of $1,600,000. How much of the dividends goes to preferred shareholders? How much goes tocommon shareholders?PrintDone- X

Dividend is the reward given to the shareholders in the form of shares, cash or other. The dividend…

Alloy Garde Corporation has 90,000 shares of $1.80 preferred stock outstanding in addition to its common stock. The $1.80 designation means that the preferred stockholders receive an annual cash dividend of $1.80 per share. In 2021, Alloy Garde declares an annual dividend of $500,000. The allocation to preferred and common stockholders is: (Click the icon to view the data.) Read the requirements. 1. How much in dividends must Alloy Garde declare each year before the common stockholders receive any cash dividends for the year? Dividends the company must declare each year before the common stockholders receivable any cash dividends = Data table Preferred dividend (90,000 shares x 1.80 per share) Common dividend (remainder: $500,000 - $162,000) Total dividend Print Done $ $ 162,000 338,000 500,000 Requirements Answer these questions about Alloy Garde's cash dividends. 1. How much in dividends must Alloy Garde declare each year before the common stockholders receive any cash dividends for the year? 2. Suppose Alloy Garde declares cash dividends of $675,000 for 2021. How much of the dividends goes to preferred shareholders? How much goes to common shareholders? 3. Is Alloy Garde's preferred stock cumulative or noncumulative? How can you tell? 4. Alloy Garde passed the preferred dividend in 2020 and 2021. Then in 2022, Alloy Garde declares cash dividends of $1,600,000. How much of the dividends goes to preferred shareholders? How much goes to common shareholders?

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 18E: Monona Company reported net income of 29,975 for 2019. During all of 2019, Monona had 1,000 shares...