1.Yukon Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Canada, Montana, Idaho, Oregon, and Washington. Yukon Bike Corp. has declared the following annual dividends over a six-year period ending December 31 of each year: Year 1, $28,000; Year 2, $44,000; Year 3, $48,000; Year 4, $60,000; Year 5, $76,000; and Year 6, $140,000. During the entire period, the outstanding stock of the company was composed of 40,000 shares of 2%preferred stock, $65 par, and 50,000 shares of common stock, $1 par.

Question

1.Yukon Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Canada, Montana, Idaho, Oregon, and Washington. Yukon Bike Corp. has declared the following annual dividends over a six-year period ending December 31 of each year: Year 1, $28,000; Year 2, $44,000; Year 3, $48,000; Year 4, $60,000; Year 5, $76,000; and Year 6, $140,000. During the entire period, the outstanding stock of the company was composed of 40,000 shares of 2%preferred stock, $65 par, and 50,000 shares of common stock, $1 par.

Instructions:
1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. Round per share amounts to the nearest cent when rounding is required. If an answer is zero, enter "0".
Preferred Dividends Common Dividends
Year Total Dividends Total Per Share Total

Answer 1

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Answer 2

To determine the total dividends and per-share dividends declared on each class of stock for each of the six years, we will calculate the dividends for both preferred and common stock separately.

Year 1:
Preferred Dividends = 40,000 shares * 2% * $65 par = $52,000
Common Dividends = $28,000 - Preferred Dividends = $28,000 - $52,000 = $0 (therefore, the per-share dividend for common stock would also be $0)

Year 2:
Preferred Dividends = 40,000 shares * 2% * $65 par = $52,000
Common Dividends = $44,000 - Preferred Dividends = $44,000 - $52,000 = $0

Year 3:
Preferred Dividends = 40,000 shares * 2% * $65 par = $52,000
Common Dividends = $48,000 - Preferred Dividends = $48,000 - $52,000 = $0

Year 4:
Preferred Dividends = 40,000 shares * 2% * $65 par = $52,000
Common Dividends = $60,000 - Preferred Dividends = $60,000 - $52,000 = $8,000
Per Share Dividend for Common Stock = $8,000 / 50,000 shares = $0.16

Year 5:
Preferred Dividends = 40,000 shares * 2% * $65 par = $52,000
Common Dividends = $76,000 - Preferred Dividends = $76,000 - $52,000 = $24,000
Per Share Dividend for Common Stock = $24,000 / 50,000 shares = $0.48

Year 6:
Preferred Dividends = 40,000 shares * 2% * $65 par = $52,000
Common Dividends = $140,000 - Preferred Dividends = $140,000 - $52,000 = $88,000
Per Share Dividend for Common Stock = $88,000 / 50,000 shares = $1.76

Therefore, the table summarizing the total dividends and per share dividends declared for each class of stock for each of the six years would be:

Year | Total Dividends | Preferred Dividends | Per Share Dividends (Preferred) | Total Dividends (Common) | Per Share Dividends (Common)
1 | $28,000 | $52,000 | $1.30 | $0 | $0
2 | $44,000 | $52,000 | $1.30 | $0 | $0
3 | $48,000 | $52,000 | $1.30 | $0 | $0
4 | $60,000 | $52,000 | $1.30 | $8,000 | $0.16
5 | $76,000 | $52,000 | $1.30 | $24,000 | $0.48
6 | $140,000 | $52,000 | $1.30 | $88,000 | $1.76

Answer 3

To determine the total dividends and per-share dividends declared on each class of stock for each year, we need to calculate the dividends separately for the preferred stock and common stock.

First, let's calculate the total dividends for each year:

Year 1: Total Dividends = $28,000
Year 2: Total Dividends = $44,000
Year 3: Total Dividends = $48,000
Year 4: Total Dividends = $60,000
Year 5: Total Dividends = $76,000
Year 6: Total Dividends = $140,000

Next, let's calculate the per-share dividends for each class of stock. We know that the outstanding stock consists of 40,000 shares of preferred stock and 50,000 shares of common stock.

To calculate the per-share dividends for the preferred stock, we need to divide the total dividends by the number of shares of preferred stock:

Year 1: Per Share Preferred Dividends = $28,000 / 40,000 shares = $0.70 per share
Year 2: Per Share Preferred Dividends = $44,000 / 40,000 shares = $1.10 per share
Year 3: Per Share Preferred Dividends = $48,000 / 40,000 shares = $1.20 per share
Year 4: Per Share Preferred Dividends = $60,000 / 40,000 shares = $1.50 per share
Year 5: Per Share Preferred Dividends = $76,000 / 40,000 shares = $1.90 per share
Year 6: Per Share Preferred Dividends = $140,000 / 40,000 shares = $3.50 per share

To calculate the per-share dividends for the common stock, we need to divide the total dividends by the number of shares of common stock:

Year 1: Per Share Common Dividends = $28,000 / 50,000 shares = $0.56 per share
Year 2: Per Share Common Dividends = $44,000 / 50,000 shares = $0.88 per share
Year 3: Per Share Common Dividends = $48,000 / 50,000 shares = $0.96 per share
Year 4: Per Share Common Dividends = $60,000 / 50,000 shares = $1.20 per share
Year 5: Per Share Common Dividends = $76,000 / 50,000 shares = $1.52 per share
Year 6: Per Share Common Dividends = $140,000 / 50,000 shares = $2.80 per share

So the table of total dividends and per-share dividends for each class of stock for each of the six years is as follows:

Year | Total Dividends | Per Share Preferred Dividends | Per Share Common Dividends
--------------------------------------------------------------------------------------
Year 1 | $28,000 | $0.70 | $0.56
Year 2 | $44,000 | $1.10 | $0.88
Year 3 | $48,000 | $1.20 | $0.96
Year 4 | $60,000 | $1.50 | $1.20
Year 5 | $76,000 | $1.90 | $1.52
Year 6 | $140,000 | $3.50 | $2.80