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 are presented below. Determine the total and per-share dividends for each class of stock for each year by completing the schedule.
|
YEAR
|
DIVIDENDS
|
PREFERRED
|
COMMON
|
|
TOTAL
|
PER SHARE
|
TOTAL
|
PER SHARE
|
|
1
|
$10,000
|
|
|
|
|
|
2
|
$25,000
|
|
|
|
|
|
3
|
$60,000
|
|
|
|
|