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Umbrello Plastics Limited reports the following shareholders' equity as of December 31, 2021: Instructions
a) What was the average per share amount for common shares? (round to two decimal places)
b) What was the average per share amount for preferred share? (round to two decimal places)
c) Assume no dividends were declared last year and the board of directors declares $ 1,600,000 in total dividends in 2021. Calculate the amount per share each class of shares will receive. (round to two decimal places)
Investment
The process of distributing funds or other resources with the goal of earning returns or profits.
Interest
The cost of borrowing money or the profit from lending money, usually expressed as a percentage rate over the period of one year.
Months
Units of time used in calendars that approximate the period required for the moon to complete its orbit around the Earth, commonly divided into 12 periods in a year.
Term Deposit
A bank deposit that has a fixed term and typically offers a higher interest rate, with the condition that the funds cannot be accessed until the term ends.
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