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Bridger Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Montana, Idaho, Oregon, and Washington. Bridger Bike Corp. has declared the following annual dividends over a six-year period ending December 31 of each year: 2005, $5,000; 2006, $18,000; 2007, $45,000; 2008, $45,000; 2009, $60,000; and 2010, $67,000. During the entire period, the outstanding stock of the company was composed of 10,000 shares of 2% cumulative preferred stock, $100 par, and 25,000 shares of common stock, $1 par. Instructions: Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears on January 1, 2005. Summarize the data in tabular form, using the following column headings: Determine the average annual dividend per share for each class of stock for the six-year period.

Bridger Bike Corp. manufactures mountain bikes and distributes them through retail outlets in Montana, Idaho, Oregon, and Washington. Bridger Bike Corp. has declared the following annual dividends over a six-year period ending December 31 of each year: 2005, $5,000; 2006, $18,000; 2007, $45,000; 2008, $45,000; 2009, $60,000; and 2010, $67,000. During the entire period, the outstanding stock of the company was composed of 10,000 shares of 2% cumulative preferred stock, $100 par, and 25,000 shares of common stock, $1 par.
Instructions:
Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears on January 1, 2005. Summarize the data in tabular form, using the following column headings:

Determine the average annual dividend per share for each class of stock for the six-year period.
Assuming a market price of $125 for the preferred stock and $8 for the common stock, calculate the average annual percentage return on initial shareholders’ investment, based on the average annual dividend per share (a) for preferred stock and (b) for common stock.

*Common dividends in 2007: $8,000

PR 13-2A
Sheldon Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Sheldon Optics on October 31 of the current year as follows:
Preferred 2% Stock, $80 par (50,000 shares authorized, 25,000 shares issued)……………………….$2,000,000
Paid-In Capital in Excess of Par-Preferred Stock………………………………………………………………………..      75,000
Common Stock, $100 par (500,000 shares authorized, 50,000 shares issued)………………………….  5,000,000
Paid-In Capital in Excess of Par-Common Stock…………………………………………………………………………    600,000
Retained Earnings…………………………………………………………………………………………………………………… 16,750,000

At the annual stockholders’ meeting on December 7, the board of directors presented a plan for modernizing and expanding plant operations at a cost of approximately $5,300,000. The plan provided (a) that the corporation borrow $2,000,000, (b) that 15,000 shares of the unissued preferred stock be issued through an underwriter, and (c) that the building, valued at $1,850,000, and the land on which it is located, valued at 17,500 shares of common stock. The plan was approved by the stockholders and accomplished by the following transactions:
Jan. 10    Borrowed $2,000,000 from Whitefish National Bank, giving a 7% mortgage note.
21    Issued 15,000 shares of preferred stock, receiving $84.50 per share in cash.
31    Issued 17,500 shares of common stock in exchange for land and a building, according to the plan.
No other transactions occurred during January.
Instructions:
Journalize the intries to record the foregoing transactions.

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