Question - Oceanic Company has 25,000 shares of cumulative preferred 2% stock, $100 par and 50,000 shares of $5 par common stock.
The following amounts were distributed as dividends:
Year 1 $100,000
Year 2 20,000
Year 3 150,000
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.