Hex Corporation Showed the Following Amounts in the Equity Section

question 6

Short Answer

Hex Corporation showed the following amounts in the equity section of its balance sheet at January 1, 2021:
$\begin{array}{|l|r|}\hline \text { Preferred Shares, } \$ 2 \text { cumulative (in arrears for 2020), 10,000 shares issued } & \$ 500,000 \\\hline \text { Common shares } 40,000 \text { shares issued } & \$ 800,000 \\\hline \text { Retained Earnings } & \$ 500,000 \\\hline\end{array}$
In 2021: On Jan. 20, 2021, 10,000 common shares were issued for $150,000. On Nov. 1, 2021, Cash dividends of $90,000 were declared. Dividends will be paid on January 18, 2022. On Dec. 31, 2021 Hex reported revenues of $150,000 and expenses of $80,000 for the year.

-What is the amount of dividend per share owing to preferred shareholders?

---

Definitions:

Gumball Machine

A vending machine that dispenses gumballs when a coin is inserted and the mechanism is operated.

Memory Strategies

Techniques or methods used to enhance memory performance, including organizational, mnemonic, and rehearsal strategies.

Organizational Strategy

A plan of action designed to achieve long-term or overall aims and objectives of an organization, guiding its course and managing its resources.

Anatomy Class

An educational course focused on the study of the structure of organisms and their parts.