QUESTION 2 – DIVIDENDS   Background Information:  Kips Corp



Background Information:  Kips Corp. declared $68,000 in dividends in 2021. Share capital consists of 1,500 common shares and 3,500, $2 preferred shares. Dividends have not been paid on the preferred shares since 2017.


Determine the dividends to be paid on preferred shares assuming:

a.    the preferred shares are cumulative.

b.    the preferred shares are non-cumulative. 

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