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Question
A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of 10%, $100 par, cumulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as dividends follow. Determine the total and per-share dividends for each class of stock for each year by completing the schedule.
| | ||||||||
| Preferred | Common | |||||||
| Year | Dividends | Total | Per Share | Total | Per Share | |||
| 1 | $10,000 | _________ | _________ | _________ | _________ | |||
| 2 | 25,000 | _________ | _________ | _________ | _________ | |||
| 3 | 60,000 | _________ | _________ | _________ | _________ | |||
Answer
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