Sandex Corporation's Balance Sheet Reported the Following Shareholders' Equity as of December

Essay

Sandex Corporation's balance sheet reported the following shareholders' equity as of December 31, 2021: Additional information:
There is one year of dividends in arrears on the preferred shares. Sandex declared a total cash dividend of $ 100,000 on December 31, 2021.
Instructions
a) Determine the dividend allocation between common and preferred shares and record the declaration of the dividend.
b) Calculate the average per share amount for common shares (round to two decimal places).