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Question
On January 1, Year 1, a company had the following transactions:
- Issued 10,000 shares of $2 par common stock for $12 per share.
- Issued 3,000 shares of $50 par, 6% cumulative preferred stock for $70 per share.
- Purchased 1,000 shares of previously issued common stock for $15 per share.
The company had the following dividend information available:
| Year 1 | No dividend paid |
| Year 2 | Paid $2,000 total dividends |
| Year 3 | Paid $20,000 total dividends |
| Year 4 | Paid $25,000 total dividends |
Using the following format, fill in the correct values for each year:
| Year 1 | Year 2 | Year 3 | Year 4 | ||||
| Common stock dividend | ______ | ______ | ______ | ______ | |||
| Preferred stock dividend | ______ | ______ | ______ | ______ | |||
| Dividends in arrears | ______ | ______ | ______ | ______ |
Answer
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