Homework Answers
Preferred dividend = 3000*5 = 15000
| a | b | ||||
| Year | Dividend paid | Non Cumulative preferred | Common Share | Cumulative preferred | Common Share |
| 1 | 15000 | 15000 | 0 | 15000 | 0 |
| 2 | 12000 | 12000 | 0 | 12000 | 0 |
| 3 | 27000 | 15000 | 12000 | 18000 | 9000 |
| 4 | 35000 | 15000 | 20000 | 15000 | 20000 |
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