Redhawk Coffee Roasters has a single class of common stock and a single class of...
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Accounting
Redhawk Coffee Roasters has a single class of common stock and a single class of cumulative preferred stock. The cumulative preferred stock requires the company to pay an annual dividend of $3,000 to preferred stockholders. On January 1, 2019, Redhawks preferred dividends were 3 years in arrears. From 2019 to 2021, Redhawk Coffee Roasters determined they would be able to pay out dividends to shareholders of $5,000, $10,000, and $15,000, respectively.
Show how these anticipated dividend payments will be split between preferred shareholders and common shareholders from 2019-2021. Also, show any dividends that may be in arrears to the preferred shareholders at the end of 2019-2021.
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