KBR Investments Inc. has issued 90,000 Class A $3 cumulative
preferred shares and 45,000 Class B $5 noncumulative preferred
shares. At the end of 2019, there were no dividends in arrears.
During 2020, KBR paid dividends of $100,000 to its Class A
shareholders. In January of 2021, KBR paid dividends of $120,000 to
its Class A shareholders. On December 31, 2021, KBR declared
dividends in an amount sufficient to pay out all of the remaining
dividends in arrears plus the entire current year obligation
including dividends on Class B shares, so that they can pay
dividends on common shares.
Instructions
Calculate the dividends declared for Class A and for Class B
shareholders on December 31, 2021.
KBR Investments Inc. has issued 90,000 Class A $3 cumulative preferred shares and 45,000 Class B $5 noncumulative prefer
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