Cash Dividends Kerry Company has 1,000 shares of $100 par value, 8%

Cash DividendsKerry Company has 1,000 shares of $100 par value, 8% preferred stock and 11,200 shares of $10 par value common stock outstanding. The preferred stock is cumulative and nonparticipating. Dividends were paid in 2010. Since 2010, Kerry has declared and paid dividends as follows:2011$ 0201210,000201317,600201422,400Required:1. Determine the amount of the dividends to be allocated to preferred and common stockholders for each year 2012 to 2014. If an amount is zero, enter “0”.YearPreferred DividendsCommon Dividends2012$$2013$$2014$$2. If the preferred stock had been noncumulative, how much would have been allocated to the preferred and common stockholders each year?YearPreferred DividendsCommon Dividends2012$$2013$$2014$$

 

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