|
|
|
|
|
|
|
|
|
|
Previous: CHARTER MUNICIPAL MORTGAGE ACCEPTANCE CO, 10-K/A, EX-99.3, 2000-08-02 |
Next: CHARTER MUNICIPAL MORTGAGE ACCEPTANCE CO, 10-K/A, EX-99.21, 2000-08-02 |
<PAGE>
Exhibit 12
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends of Subsidiary
<TABLE>
<CAPTION>
Years Ended December 31,
--------------------------------------------
1999 1998 1997
------------ ------------ ------------
<S> <C> <C> <C>
Earnings:
Net Income $23,181,818 $22,025,872 $10,055,808
Add-Fixed charges and preferred stock
dividends of subsidiary 4,763,600 1,504,334 429,012
---------- ---------- ----------
Income before fixed charges and preferred
stock dividends of subsidiary $27,945,418 $23,530,206 $10,484,820
---------- ---------- ----------
---------- ---------- ----------
Fixed Charges and Preferred Stock Dividends of Subsidiary:
Interest expense $ 1,749,225 $ 1,504,334 $ 429,012
Preferred stock dividends of subsidiary 3,014,375
---------- ---------- ----------
Total fixed charges and preferred stock
dividends of subsidiary $ 4,763,600 $ 1,504,334 $ 429,012
---------- ---------- ----------
---------- ---------- ----------
Ratio of Earnings to Fixed Charges and
Preferred Stock Dividends of Subsidiary 5.87 15.64 24.44
</TABLE>
The Company had no interest expense or other fixed charges prior to 1997. The
Company had no preferred stock of subsidiary prior to 1999.
|
|