KBR Investments Inc. has issued 90,000 Class A $ 3 cumulative preferred shares and 45,000 Class B $ 5 noncumulative preferred shares. At the end of 2019, there were no dividends in arrears. During 2020, KBR paid dividends of $ 100,000 to its Class A shareholders. In January of 2021, KBR paid dividends of $ 120,000 to its Class A shareholders. On December 31, 2021, KBR declared dividends in an amount sufficient to pay out all of the remaining dividends in arrears plus the entire current year obligation including dividends on Class B shares, so that they can pay dividends on common shares.
Instructions
Calculate the dividends declared for Class A and for Class B shareholders on December 31, 2021.

Question

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The Answer of KBR Investments Inc. has issued 90,000 Class A $ 3 cumulative preferred shares and 45,000 Class B $ 5 noncumulative preferred shares. At the end of 2019, there were no dividends in arrears. During 2020, KBR paid dividends of $ 100,000 to its Class A shareholders. In January of 2021, KBR paid dividends of $ 120,000 to its Class A shareholders. On December 31, 2021, KBR declared dividends in an amount sufficient to pay out all of the remaining dividends in arrears plus the entire current year obligation including dividends on Class B shares, so that they can pay dividends on common shares.
Instructions
Calculate the dividends declared for Class A and for Class B shareholders on December 31, 2021.