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  3. the shareholders equity of ilp industries includes

The shareholders equity of ILP Industries includes the items shown below. The board of directors...

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Accounting

The shareholders equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $8 million, $20 million, and $150 million in its first three years of operation2024, 2025, and 2026, respectively.

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Required:

1. Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating. (Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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2. Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is noncumulative and nonparticipating. (Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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(\$ in millions) Common stock $100 Paid-in capital-excess of par, common Preferred stock, 8% 980 Paid-in capital-excess of par, preferred 555 \begin{tabular}{|l|l|l|} \hline & Preferred & Common \\ \hline 2024 & & \\ \hline 2025 & & \\ \hline 2026 & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|} \hline & Preferred & Common \\ \hline 2024 & & \\ \hline 2025 & & \\ \hline 2026 & & \\ \hline \end{tabular}

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