A company had stock outstanding as follows during each of its first three years

Question

A company had stock outstanding as follows during each of its first three years of operations: 2,000 shares of 8%, $100 par, cumulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends are presented below. Determine the total and per-share dividends for each class of stock for each year by completing the schedule. Round dividends per share to the nearest cent. Enter "0" if no dividends are paid.

                                                        Preferred                      Common

Year        Dividends         Total        Per Share         Total              Per Share

1             $12,000                      $ $                      $                     $

2             16,000                       $             $                    $                    $

3             44,100                      $              $                  $                        $

Explanation / Answer

Dividend Year Total Per Share Total Per Share 12000 1 12000 6 0 0 16000 2 16000 8 0 0 44100 3 20000 10 24100 0.482

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