80.2K

Verified Solution

Link Copied!

The statement of shareholders' equity of Reliable Storage Corporation for the year ended December 31, reports the following dividends paid to shareholders (5 thousands). Distributions to equity holders Preferred shares $194,684 Common shares $1,256,728 The year-end balance sheet includes the following ($ thousands). Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 161,000 shares issued and outstanding $3,622,500 Common Shares, 50.10 par value, 650,000,000 shares authorized, 174,130,881 shares issued and outstanding $15,672 a. Use the financial statement effects template to indicate the effects of (a) the preferred dividend declaration and payments and (b) the common dividend declaration and payments. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. (s thousands) Balance Sheet Income Staten Cash Asset Contrib Capital Earned Capital + Noncash Assets Liabilities Revenues Exp Transaction (a) Preferred dividend payment 0 0 0 = 0 0 0 0- (b) Common dividend payment 0 0 = 0 0 0 0 + b. Determine the dividends per share for both classes of stock. Note: Round your answers to two decimal places (for example, enter 67,49 for 67.48555), Dividends per Share Preferred shareholders: S Common shareholders: S 0

Answer & Explanation Solved by verified expert

See Answer