141) JetNew has the follow share outstanding since their initial share offering:
50,000 shares of $2.00 cumulative preferred shares
50,000 common shares issued at $15 each
The board of directors has declared the following dividends:
2007none
2008$50,000
2009$75,000
2010$150,000
2011$300,000
Prepare a table indicating the split of the declared dividends between the common shareholders and the preferred shareholders for each year.
142) Define and contrast each of the following share values:
? market value
? book value
? redemption value
? liquidation value
143) Pharmaprix Corporation's balance sheet reported the following shareholders' equity as of December 31, 2010:
Share capital:
Preferred shares, $5 cumulative, 10,000 shares
authorized, 7,000 issued, redemption value $105 per share$ 770,000
Common shares 200,000 shares authorized, 50,000
shares issued1,150,000
Total share capital$1,920,000
Retained earnings 450,000
Total shareholders' equity$2,370,000
Assuming there are 2 years' dividends in arrears (including that of the current year), determine (1) preferred equity and (2) book value per share of common shares.