Q4. Exercise 14-02 Sunland Corporation was organized on January 1, 2019. During its first year, the...

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Q4. Exercise 14-02 Sunland Corporation was organized on January1, 2019. During its first year, the corporation issued 1,950 sharesof $50 par value preferred stock and 110,000 shares of $10 parvalue common stock. At December 31, the company declared thefollowing cash dividends: 2019, $5,325; 2020, $13,800; and 2021,$28,500.
a. Show the allocation of dividends to each class of stock,assuming the preferred stock dividend is 7% and noncumulative.
b. Show the allocation of dividends to each class of stock,assuming the preferred stock dividend is 8% and cumulative.

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a Dividend for preferred shares 7 of 1950 shares 50 6825 As they are noncumulative the will not accumulate in the form of arrears each year 2019 2020 2021 a Cash See Answer

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Q4. Exercise 14-02 Sunland Corporation was organized on January1, 2019. During its first year, the corporation issued 1,950 sharesof $50 par value preferred stock and 110,000 shares of $10 parvalue common stock. At December 31, the company declared thefollowing cash dividends: 2019, $5,325; 2020, $13,800; and 2021,$28,500.a. Show the allocation of dividends to each class of stock,assuming the preferred stock dividend is 7% and noncumulative.b. Show the allocation of dividends to each class of stock,assuming the preferred stock dividend is 8% and cumulative.