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Question
Sabas Company has issued and outstanding 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends:
Year 1 $10,000
Year 2 45,000
Year 3 90,000
Determine the dividend per share for preferred and common stock for the second year.
a. $2.25 and $0
b. $2.25 and $0.45
c. $0 and $0.45
d. $2.00 and $0.45
Answer
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